This assignment will need to be 1,000 words. If sources are used, please be sure they are "quoted with quotations," and the reference is listed.
The query is: No firm is completely sheltered from rivals; all firms compete for all customers and their money. If that is true, pure monopoly does not exist. Do you agree? Please give an explanation in a way that demonstrates your complete understanding of monopolies.
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Effects of monopolies on society are noted.
Details: There are many different types of monopolies which exist within the market. you are going to talk about the different kind of monopolies, their place in the market, and their effect on society. please discuss the following:
- Define a monopoly.
- Find two examples of monopolies and they cannot be the same type of monopoly (no choosing two government monopolies for example).
- Briefly describe what makes your examples a monopoly.
- How did they become a monopoly?
- What effect does that monopoly have on the market?
- What effect does that monopoly have on society, if any?