Why monopolies occur, and why they are undesirable
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A brief description of monopoly, why they occur, and why they are undesirable at times.
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A brief summary of why monopolies occur, and why they are undesirable at times.
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A monopoly is an industry with a single firm. Usually monopoly industries have a significant barrier to entry. A natural barrier to entry is a case where the quantity demanded of the good produced by the monopoly is on the downward sloping portion of its long run average cost curve. This means a monopoly can produce the good more cheaply than two or ...
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