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English definition of “pure monopoly”

pure monopoly

noun [C or U]     ECONOMICS
a situation where one company has complete control of the supply of a product or service : The Post Office has a pure monopoly on the delivery of letters , as no individual company would be able to compete . High profits always attract competitors , so cases of pure monopoly are rare .
(Definition of pure monopoly noun from the Cambridge Business English Dictionary © Cambridge University Press)
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