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    monopoly power that is not due to government regulation

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    Describe a real life situation of a firm having type monopoly power that is not due to government regulation. What is the source of their monopoly power and how do they exploit it?

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    Solution Preview

    Problem: Describe a real life situation of a firm having type monopoly power that is not due to government regulation. What is the source of their monopoly power and how do they exploit it?

    As per Econlib, "Monopoly is an enterprise that is the only seller of a good or service. In the absence of government intervention, a monopoly is free to set any price it chooses and will usually set the price that yields the largest possible profit.?
    Monopoly is a form of market structure, where there is domination of one company in the market. As per Econlib, Successful monopolists charge prices above what they ...

    Solution Summary

    An example of monopoly power that is not due to government regulation is embedded. References are also provided to further validate the findings.

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