Share This Article:

Economic Definition of monopoly characteristics. Defined.

Offline Version: PDF

Term monopoly characteristics Definition: The four key characteristics of monopoly are: (1) a single firm selling all output in a market, (2) a unique product, (3) restrictions on entry into and exit out of the industry, and more often than not (4) specialized information about production techniques unavailable to other potential producers.


« monopoly and perfect competition | marginal revenue and marginal cost monopoly output »


Alphabetical Reference to Over 2,000 Economic Terms