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Explain five sources of monopoly power

Answer Text:
-High initial cost investment:This occurs where the initial cost of investment is extremely high and only one firm can afford to invest
-Control of resources:If the firm has total control over the production and supply of the most vital resources
used in the production of a commodity
-The size of the market:If the size of the firm is such that only one firm can operate at a profit.
-Legal barriers:Occurs where the government licenses and legalizes only one firm to provide a commodity.
-Technology:Where the firm is advanced technologically
-Government protectionist policy; If the government safeguards the firm against competition