" Read the following statements - Assertion (A) and Reason (R):
Assertion (A) – Monopoly market structure have single seller in the market.
Reason(R) – A Monopoly firm either have access to exclusive resources/ knowledge or restricted licence or some unique support from governmental or large private organisation.
From the given alternatives choose the correct one:"
Assertion (A) – Monopoly market structure have single seller in the market.
Reason(R) – A Monopoly firm either have access to exclusive resources/ knowledge or restricted licence or some unique support from governmental or large private organisation.
From the given alternatives choose the correct one:"
Answer & explanation
Correct answer: option 1
These resources becomes barriers for other firms.