Engineering Economics
A form of business organization in which a person conducts his business alone and entirely for his own profit, being solely responsible for all its activities and liabilities.

Partnership
Corporation
Sole proprietorship
Entrepreneurship

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Engineering Economics
Perfect monopoly exists only if:

the single vendor is the only one who has the knowledge of the product
the single vendor gets the absolute franchise of the product
the single vendor is the only one who has the permit to sell
the single vendor can prevent the entry of all other vendors in the market

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