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Answer to Question #349127 in Microeconomics for Belete

Question #349127

Explain causes of monopoly




1
Expert's answer
2022-06-08T08:06:37-0400

Monopolies can arise when one business owns a key resource. These are generally physical resources, such as diamonds. For example, if there is only one diamond mine in the country, the business that owns it will be able to achieve a monopoly.


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