Highlight four circumstances that can lead to creation of a monopoly
Answer Text: -Where heavy/high initial capital is required and other firms cannot afford-When a firm is in control of an important input in production-Where different firms combine to form one firm-Where the market is small and can only be served by one firm economically-Where one firm can operate at low cost that other firms cannot survive-Where a firm is enjoying economies of scale not enjoyed by the other firms
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