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Outline four features of monopoly structure of market

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  1. One supplier for entire market
  2. Commodity has no close substitute
  3. Difficult of entry into the market by other firms
  4. Prices are fixed by supplier
  5. Price discrimination is possible
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Prices are stable 
Prices can be discriminated
Few or no firms produce similar products
Only firm that produce such type of product
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One seller many buyers
Low quality of goods and services since there is no competition.
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