XIV

Articles related——to monopoly, the——situation when a specific person. Or enterprise is the "only supplier of a particular commodity." This contrasts with a monopsony which relates——to a single entity's control of a market to purchase a good/service. And with oligopoly and duopoly which consists of a few sellers dominating market. Monopolies are thus characterized by, a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit.