Monopoly Form of Market

2. Forms
Of
Market

4. – It is a form of market in which there is
a single seller of a product with no
close substitutes.
– Example: railway in India are
monopoly industry of the government
of India.

6. RTA Buses and Metro in Dubai.

7. Features
of

8. – One seller and large number of buyers: under
monopoly, there is a single producer of a
commodity.
– Restriction on the entry of new firms: under
monopoly, there are some restrictions on the
entry of new firms into the monopoly industry.

9. – No close substitutes: a monopoly firm produces a
commodity that has no close substitutes.
– Example: there is no close substitute of railways as a
bulk carrier.
– Full control over price: being a single seller of the
product, a monopolist has full control over its price.
A monopolist, thus , is a price maker. He can fix
whatever price he wishes to fix for his product.

10. – Price discrimination: a monopolist may
charge different price from different
buyers. It is called price discrimination.
– It refers to the practice of charging
different prices from different prices from
different buyers for the same good.

11. Group
Discussion

12. – GIVE ANY 2 EXAMPLES FOR
MONOPOLY
– WHY ENTRY OF NEW FIRM IS
RISTRICTED IN MONOPOLY?
– Explain any 2 features of
monopoly?

13. Home work
– Research about DANATA
.