Therefore, if there is only one person, firm, institution or industry selling a commodity in the market, it is called a monopolist. But this is only the literal meaning of the term monopoly.
2/🧵
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Therefore, if there is only one person, firm, institution or industry selling a commodity in the market, it is called a monopolist. But this is only the literal meaning of the term monopoly.
2/🧵
Interesting, what if they are two?