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Market Equilibrium — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMarket Equilibrium3 Marks
Question
Why a monopolist is considered as price maker?
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Answer

Under monopoly competition there is a single seller dealing in the market and he holds power over the price he charges for a commodity, that's the reason we consider seller as a price maker. He can charge the price according to the market forces of demand and supply, by controlling the supply of the product.

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