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monopoly is a game or...
it is when only one company has the product. w/ no competition, the company can charge a high price. cuz' of that, govt usually regulates a monopoly on how much it can charge.
Monopoly describes a market situation in which only one company controls the supply of a certain goods or service. There is no competition so the company can charge whatever price it wants. Because of that, government usually has rules and regulations for a monopoly.
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