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Forms of Market — Economics STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsEconomicsForms of Market4 Marks
Question
A seller is a price maker in monopoly.
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Answer

Yes, I agree with this statement.
  1. In monopoly market there is a single seller of a product. The aim of the monopolist is to earn maximum profit.
  2. Being a single seller, the monopolist has complete control over the market supply.
  3. The monopolist can thus have control over the price. He is, thus, a price maker.

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