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A Market Structure in Which There Is Only One Producer/seller For A Product

A monopoly is a market structure dominated by a single seller who determines prices and restricts market entry. Key characteristics include one seller producing all output and controlling prices, with high barriers preventing other sellers from entering the market. Examples in the Philippines include Meralco as the sole supplier of electricity.

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Ian Von Arandia
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43 views

A Market Structure in Which There Is Only One Producer/seller For A Product

A monopoly is a market structure dominated by a single seller who determines prices and restricts market entry. Key characteristics include one seller producing all output and controlling prices, with high barriers preventing other sellers from entering the market. Examples in the Philippines include Meralco as the sole supplier of electricity.

Uploaded by

Ian Von Arandia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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MONOPOLY

- A market structure in which there is only one producer/seller for a product


- Seller is able to make his own price it can be increased or
decreased according to his desire
- A market that is restricted due to high costs or other impediments, which
may be economic, social or political.

CHARACTERISTICS:
- A monopoly maximizes profit
- The Monopoly decides the price of the good or product being
sold
- Other sellers are unable to enter the market of the monopoly
- One seller produces all of the output for the good or service
EXAMPLES OF MONOPOLY IN THE PHILIPPINES:
Meralco, the only supplier of electricity in the country

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