ZENA SALIM
2 days ago
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ChatGPT
2 days ago
1. There is only one seller in the market, giving them significant control over pricing and supply.
2. Entry into the market is difficult due to high barriers to entry, such as high start-up costs or exclusive access to resources.
3. The seller has a unique product or service that is not easily substituted by competitors, giving them a competitive advantage.
4. The seller can potentially earn high profits due to their monopoly power, but may also face scrutiny from regulators for potential anti-competitive behavior.
2. Entry into the market is difficult due to high barriers to entry, such as high start-up costs or exclusive access to resources.
3. The seller has a unique product or service that is not easily substituted by competitors, giving them a competitive advantage.
4. The seller can potentially earn high profits due to their monopoly power, but may also face scrutiny from regulators for potential anti-competitive behavior.
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Google Gemini AI
2 days ago
1. Single Seller: There is only one firm that produces and sells the product or service in the market.
2. Uniform Product: All units of the product or service are identical in terms of features, quality, and price.
3. No Close Substitutes: There are no other products or services that are significantly similar to the monopolist's offering.
4. Barriers to Entry: There are significant barriers to entry that prevent new firms from entering the market and competing with the monopolist.
2. Uniform Product: All units of the product or service are identical in terms of features, quality, and price.
3. No Close Substitutes: There are no other products or services that are significantly similar to the monopolist's offering.
4. Barriers to Entry: There are significant barriers to entry that prevent new firms from entering the market and competing with the monopolist.
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