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What are the four conditions in place in a perfectly competitive market?
the economy Major of those four are the natural monopoly. geographic monopoly, govrnement monopoly. technological monopoly.
What is geographic monopoly?
A geographic monopoly exists when a single company has exclusive control over a particular market or industry within a specific geographic region. This can limit competition and potentially lead to higher prices for consumers due to the lack of alternatives. Governments may regulate geographic monopolies to protect consumers and promote fair competition.
What is the difference between the term 'monopoly' and 'natural monopoly'?
The difference between the term 'monopoly' and 'natural monopoly' is a monopoly is a market situation one group controls the availability and price of a service or item. A natural monopoly is a service or item that is provided by a single sorce. An example would be transportation like buses, or taxies.
Is a diamond a natural monopoly?
No.
What are the four types of monopolies?
natural, geographic, technological, government
What is a geographical monopoly?
When a market's potential profit is so limited by its geographic location that only a single seller decides to enter the market. That type of market is a geographic monopoly. An example would be a general store in a remote community.
A monopoly permitted by and regulated by the government for its greater social good such as a telephone company?
natural monopoly
What is the difference between a geographic monopoly and technological monopoly?
Geographic monopolies occur when there is only one company that offers a particular good or service in an area. Technological monopolies occur when the good or service the company provides is has legal protection in the form of a patent or copyright.
What was the most geographic feature contributed development of commerce throughout Colonial America?
The geographic feature is Natural Harbors :)
Is the market for duty free shopping a natural monopoly?
The market for duty-free shopping is not a natural monopoly. Duty-free shops sell products to travelers who take them out of the country. Natural monopoly only occurs if there is a high cost of starting a business in a particular industry.
How did railroads create a natural monopoly?
good job
What is an natural monopoly?
A natural monopoly exists when a single firm can supply a good or service to an entire market at a lower price than could two or more firms. Generally it arises when there are economies of scale over the relevant range of output.
