Respuesta :
A full monopoly, Correct Unavailable is characterized by a single seller, the absence of near substitutes, a price maker, barred entrance, and non-price competition.
Which market called price maker?
There are no competitors in a market that is monopolistic. The monopolist, also known as the price maker, is able to set the price in the market due to the absence of close replacements and competitors. A seller who has sufficient pricing and market clout to affect market prices is said to be a price maker. In such a scenario, a company's capacity to successfully alter product and service prices determines its market and pricing power.
What is price maker in monopoly and why is perfect competition a price maker?
A monopolist is seen as a price maker since it has the power to determine the cost of the goods it sells. Demand, often known as consumer willingness & ability to buy the commodity, places restrictions on the monopolist.
Because competing firms pressure companies to accept the market's current equilibrium price, a perfect competition firm is referred to as a price taker. A company will lose every one of its sales to rivals if it increases the price of its item by even a penny in a highly competitive market.
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