in monopoly thre is perfect knowledge or imperfect nd y - Economics - Non-Competitive Markets

Question

in monopoly thre is perfect knowledge or imperfect nd y?

Ayan Shukla · Accepted Answer

In monopoly,contrary to perfect competition market structure,
the monopolist has a specialized information which is not known to
other producers and this is the reason which keeps other firms to
enter into the market So,in a way there is imperfect information in
monopoly
On consumers side, consumers know about the producer perfectly
but they don't have any option besides going to him as it is a
monopoly