What is the definition of monopoly? a. a monopoly is a firm that earns large economic profits. b. a monopoly is a firm that is the only seller of a product that can ignore the fixed cost of production. c. a monopoly is a firm that is created and regulated by the government. d. a monopoly is a firm that is the only seller of a product in a given industry. e. all of the above?

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The answer is D.

A monopoly is a firm that is the only seller of a product in a given industry. We can roughly distinguish two types of monopolies: natural monopolies occur based on natural circumstances like strategic positioning or abundant mineral resources. Besides the natural monopoly, we can also distinguish a legal monopoly. This type of monopolist is operating under the mandate of a government.

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What is the definition of​ monopoly?

d. a monopoly is a firm that is the only seller of a product in a given industry.

answer; be sure that the information on file is correct;

answer; strategic planning;