4 Types Of Monopolies

Question: Natural monopoly

Answer: A market situation where it is most efficient for one business to make the product.

Question: Geographic monopoly

Answer: Monopoly because of location (absence of other sellers).

Question: Technological monopoly

Answer: based on ownership or control of a manufacturing method, process, or other scientific advance

Question: Government monopoly

Answer: A monopoly that the government owns and operates.

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