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MARKET (How to Control MONOPOLY (Discovery of Substitute, Encouraging…
MARKET
How to Control MONOPOLY
Discovery of Substitute
Encouraging Competition
Determination Of Price
Nature of Demand
Consumer's Reaction
Nationalization
Administrative Measures
Pure MONOPOLY
Single Seller
No Close Substitute
Price Maker
Blocked Entry
Non-Price Competition
Four MODELS
Monopolistic Competition
Pure Monopoly
Pure Competition
Oligopoly
OLIGOPOLY
Very Few Suppliers
Standardrized or Differentiated Product
Market Price Makers
Monopolistic Competition
Relatively Large Numbers of Sellers
Differentiated Products
Easy Entry & Exit from Industry