10/14/2023 0 Comments Monopoly def![]() This is possible because there is absolutely no close or remote substitute available in the market. Pure/ Absolute Monopoly – The monopolist controls the entire market supply for its product without facing any form of competition.An example of a public monopoly would be the U. These monopolies are set up for the welfare of the masses. Public Monopoly – A public monopoly is one that is owned by the government.Private Monopoly – A private monopoly is one that is owned by an individual or a group of individuals.These different types of monopolies are listed below: There exist several different types of monopolies in an economy.
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