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What are the Characteristics of Monopoly?

Some of the Characteristics of Monopoly are discussed below. So let us check it out some more points and information about various characteristics to know more about Monopoly.

Characteristics of monopolies are:

  1. Due to monopoly there is only single seller and large number of buyers are available in the market.
  2. As the product is unique, No close substitute is available hence more chances of making profit.
  3. More profit can be increased in long term from product or services during monopoly.
  4. During monopoly the firm or company can change the prices of products or services to make more profit out it
  5. There are chances of price discrimination at the time of monopoly.
  6. The entry of new company or firm can be blocked effectively by legal or natural barriers.
  7. Monopolist are price maker as they have ability to set prices of product and services.
  8. There are barriers to entry during monopoly.
  9. New firms cannot enter market hence no immediate competitors.
  10. Firms or company can make profit in long term.
  11. You might also like advantages & disadvantages of Monopoly to know more about monopoly.

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Examples of Acids and Bases

Examples of Acids and Bases are as follows , so let us check it out some information on Acids and Bases to know more about it.

Examples of Acids are:

  1. Hydrochloric Acid
  2. Nitric Acid
  3. Sulfuric Acid
  4. Oxalic Acid
  5. Hydrophosphoric Acid
  6. Nitrous Acid
  7. Chloric Acid
  8. Bromic Acid
  9. Fluoric Acid
  10. Chromic Acid etc...........

Examples of Bases are:

Full Form of MOT,MBBS

Master of Occupational Therapy (MOT) is a professional degree program offered by various health care schools.(Other full form and meaning  of MOT are also available) So check it out other articles related to the given term.

MBBS - Bachelor of Medicine, Bachelor of surgery (Degree awarded by medical  school).