Fixation refers to the process of setting the present or future price of a commodity based on market analyses and assessments of supply and demand.
A monopolist is a firm or individual entrepreneur that is the sole producer of a good and represents the entire market supply of that good. This exclusive control allows the monopolist to influence the price and quantity of the product in the market.
The monopoly price is the price arrived at in a market where the supply is controlled by a monopoly, typically higher than the price that would prevail under competitive conditions.
A market situation where there is only a single consumer of a good or service produced, giving that consumer substantial control over prices and terms.
