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Monopoly (Business)

The term monopoly is derived from the Greek words 'mono' which means single and 'poly' which means seller. So, monopoly is a market structure, in which there is a single seller. There are no close substitutes for the commodity it produces, and there are barriers to entry.

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What is the angel islington in mcdonalds monopoly?

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Asked by Wiki User

was in the lighter blue group/out-of-3 tokens or properties.that rare one is euston rd though, so this one in particular is common out of the set.it does exist.

Who was the head of the monopoly of oil industry?

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I do, I just bought it, plus Times Square! :D

Why did the progressives work against monopolies?

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because they think it is gay

What makes ESKOM a monopoly?

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Eskom is a Monopoly because is the only Electricity Ernergy supplier in the country .It does not compete when it comes to supply of it thereof.It was like Telkom prior 1994 when Cell phones were absent.

Why monopoly does not have a supply curve?

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Because the monopolist's supply decision cannot be set out independently of demand.

since supply curve tells us the quantity that a firm chooses to supply at any given price and on the other hand, a monopoly firm is a price maker; the firrm sets the price and at the same time it chooses the quantity to supply. The market demand curve tells us how much the monopolist will supply.

Why does the government sometimes give monopoly power to a company issuing a patent?

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The company can then profit from their research without competition.

Cartels monopolies trusts as well as horizontal and vertical integration all share what goal?

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cartels, monopolies, trust, and horizontal and vertical integration all share the goal of

What are the examples of monopoly in Pakistan?

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A duopoly is a market structure in which two companies dominate the market for a particular product or service. In Pakistan, there are several examples of duopolies in various industries. Here are a few examples:

Telecommunications: Pakistan has two major telecommunications companies: Pakistan Telecommunication Company Limited (PTCL) and Mobilink. These two companies dominate the telecommunications market in Pakistan and have a significant market share.

Banking: The banking industry in Pakistan is dominated by two major banks: Habib Bank Limited (HBL) and United Bank Limited (UBL). These two banks have a significant presence in the Pakistani banking market and have a large share of the market.

Cement: The cement industry in Pakistan is dominated by two major companies: Lucky Cement and DG Khan Cement. These two companies have a significant share of the cement market in Pakistan and are major players in the industry.

Overall, duopolies are common in Pakistan, with two companies dominating many different industries.

Define oligopoly and monopoly?

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Monopoly means an absolute power to produce and sell a product which has no close substitution. Oligopoly means a few sellers sell differentiated or homogeneous products. e g automobile industry

What is a monopoly who obtained monopolies in the late 1800s?

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Waka Flocka Flame 1017 BrickSquad monopoly Ceo bossed up

What is the opposite word of monopoly?

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Asked by DarianWatson

The answer to this question is "a monopsony". This is where one buyer faces many sellers.

Who had the monopoly in the railroad industry?

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The early Nineteenth Century was a time of Westward expansion and Westward development. Thousands of prospectors and hopeful American businessmen flocked to the frontier with the intent of making their fortunes in this previously untouched area. It was not until the development of the railroads, however, that Westward expansion reached its furious pace. Once this new form of transportation was in place, it was no longer necessary for every settlement to be self-sufficient: It could simply "import" whatever it needed via the rail. This interconnectedness was extremely attractive to businessmen, who saw the opportunity to increase their wealth by exploiting the untapped resources of the West. The developing railroads rapidly became huge businesses, imperative to the success of American enterprise. The material needs of the railroads helped create several other big industries, such as iron, steel, copper, glass, machine tools, and oil. Soon, Wall Street had to be reorganized into a national money market, capable of handling the enormous capital that was needed to build and operate the railroads. The result was a revolution in the organization and scale of enterprise: "Big business reached greater markets than were ever conceived of before and could benefit from the ability to raise vast amounts of capital that made possible the cost economies of large-scale production" (Chalmers). The need for all of these industries to stay successful was worrisome for railroad owners. To avoid the loss of production in any of these areas, large corporations attempted to stabilize their situations by pooling markets and centralizing management. By combining all of the fields into one conglomeration, the railroads had a new power, as they acquired control of many facets of the new economy. This body now had the ability to "squeeze out competitors, force down prices paid for labor and raw materials, charge customers moreÉ and get special favors and treatments from National and State government" (Chalmers). The railroads had all the power, because they controlled all the prices. Since the new residents of the West could not survive without the use of the railroads, they were forced to pay whatever rates the raildroad companies set. Malik Davis yo http://cse.stanford.edu/classes/cs201/Projects/corporate-monopolies/development_rrmon.html

How do you play monopoly the game?

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first, you roll the dice, next

Go directly to jail, do not pass go, do not collect $200.

Why is pure competition better compared to monopoly?

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Yes, perfect competition allows the market to dictate prices where as a monopoly can set any price because there is no other alternative.

Why a monopoly can lead to inefficient outcomes?

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There are various reasons why monopoly leads to an inefficient outcome. Some of the reasons are as follows: * It produces less output that what a competitive market would and charge higher price which ultimately leads to a decline in consumer surplus and a deadweight loss. * Monopoly charges a price above its marginal cost, i.e. P > MC, and this results in an allocative inefficiency * A monopoly doesn't produces at the lowest point of the average cost curve (AC) and hence it leads to production inefficiency. * Monopoly has less incentive to cut cost as it doesn't face competition. This is often termed as X-inefficiency. * A monopoly makes supernormal profit (economic profit), i.e. Q * (AR - AC), leading to an unequal distribution of income. * Monopoly produces less than perfect competition and hence creates unemployment of resources. * By producing less in order to charge higher price, monopoly creates an artificial scarcity. The inefficiency associated with a creation of artificial scarcity is called the Deadweight Loss. (Written by Manish Regmi )