👉 Semimonopolistic refers to a business model where one firm has complete control over a market, with no other firms competing against it. This can occur in industries such as telecommunications or media, where dominant players have significant market power and are able to charge high prices for their products or services. In a semimonopolistic market, the dominant firm may decide not to enter new markets or expand its operations, as they would risk losing their dominance over the market. This can lead to inefficiencies in
