This occurs when there is only one firm in the market, and they have complete control over prices. In transportation, this could occur when a government-owned company is the only one that is allowed to operate trains or buses in a particular region.
This occurs when there is only one firm in the market, and they have complete control over prices. In transportation, this could occur when a government-owned company is the only one that is allowed to operate trains or buses in a particular region.