2. Give your own example of a real-life market that may be a monopoly and one...

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2. Give your own example of a real-life market that may be a monopoly and one that may be an oligopoly. Explain why that mark

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Indian Railways is a monopoly and this is because of the fact that there's only one player in the market which gets to deliver the service to the customers.

Airlines is an oligopoly and the reason is that there are a few number of players in the market and apart from that the barriers to entry of an oligopoly is high.

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