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What Is Competive Advantage??

Competitive advantage is the advantage which helps a firm to compete with other i.e the the relative advantage of a firm in field of competion compared to the other firm

What is monopoly?

A monopoly is a market structure in which there is a single seller or producer of a product or service, with no close substitutes. It is characterized by the absence of competition, allowing the monopolist to have significant control over price and supply in the market. This means that the monopolist can exert market power and potentially charge higher prices or reduce output, leading to potentially higher profits. Monopolies can arise due to various factors such as government regulations, exclusive patents, or natural barriers to entry in the market.