A firm that holds a monopoly position in the market place is:.

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03-02-2022
Business

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A firm that holds a monopoly position in the market place is:.

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Chilljain33idn Chilljain33idn · Answer 1 · 2022-05-14T00:38:18-04:00

A firm which enjoys the position of monopoly in the market is regarded as a monopolistic firm.

What is monopoly?

Monopoly is regarded as a situation, which a person enjoys by having the exclusive rights to sell such product in the market. There are no other competitors for such sellers in the market.

Due to zero competition and exclusive rights, the seller or such monopolistic firm enjoys pricing power in the market.

Hence, it can be said that a monopoly gives a firm a power to have exclusive selling rights for a particular product in the market.

Learn more about monopoly here:

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What is monopoly?

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