The first edition of Newtâs Fantastic Beasts book is published in 1927, a year after the events of the Fantastic Beasts movie. By the time of the Harry Potter novels, set in the 1990s, Scamanderâs book is in its 52nd edition.
Definition of 'Monopoly'. Tweet. A market structure characterized by a single seller, selling a unique product in the market. Definition: A market structure characterized by a single seller, selling a unique product in the market.In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.weet. A market structure characterized by a single seller, selling a unique product in the market. Definition: A market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.
Monopoly Graph. 1  A Monopolist is a price maker because he does not face any competitors. 2  Therefore demand is price inelastic. 3  A monopolist will seek to maximise profits by setting output where MR = MC. 4  This will be at output Qm and Price Pm. 5  If the market was competitive the price would be lower and output higher.