(Answered) According to the definition of monopoly there must be a

Finance

According to the definition of monopoly, there must be a single seller in the market. If McDonald's is the only seller of Big Macs, does that mean McDonald's has a monopoly?

An industry can remain a monopoly if there are barriers to entry that prevent potential rivals from entering the market. What is an example of a barrier to entry?

Is a monopoly guaranteed to have a large profit?

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