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A monopoly generally is described as a market structure where there is only one seller in the market. Attributes of this market structure usually include:
A monopoly generally is described as a market structure where there is only one seller in the market. Attributes of this market structure usually include: 1) one seller; 2) perfect information; and 3) high barriers to entry. Provide an original example of a company that you believe to be a monopoly. Provide an example of a product that you believe this company has a monopoly in producing, and why there are no substitutes for this product (no other company's product competes with this one)
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