One of the assumptions of the theory of monopoly is that the single seller sells a product for which there are no close substitutes.

Name: One of the assumptions of the theory of monopoly is that the single seller sells a product for which there are no close substitutes.
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In monopoly theory, it is assumed that the monopolist is the sole seller of a product for which there are no close substitutes, giving the monopolist significant market power.

One of the Assumptions of the Theory of Monopoly Is