why single seller dominates the market??

  Monopoly Market

The word mono means single and poly means seller, the word monopoly means single seller. In this market there is only one sellers and many buyers, where competition is very less. 

In other words, monopoly is the market structure in which there is a single seller of goods and services, selling goods to various consumers.

Features are:

·       In monopoly the firm is price maker.

·       Its product does not have close substitutes.

·       There is barriers to enter in monopoly market.

Example:

Indian Railways is the example of monopoly market where it is the only one which provides rail transport to people living in India.

Note:  The slope of monopoly is always downward because

            In this market, marketer decreases the price of the unit

            to sell more unit of the product, where marginal rate of

            utility takes place.