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Q: A legal monopoly is determined when?
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Continue Learning about Economics

What is the only legal monopoly?

Major League Baseball


What is the legal term that describes the controlling body of a monopoly?

Trust


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.


Is monopoly better than monopoly express or monopoly express better than monopoly?

If you want something entertaing for a short period of time Monopoly Express is better.If you want somethig that is longer , Monoploy. But you could play the original Monopoly on the Monopoly Express gameboard.


What are the different versions of monopoly?

Perfect Monopoly: It is also called as absolute monopoly. In this case, there is only a single seller of product having no close substitute; not even remote one. There is absolutely zero level of competition. Such monopoly is practically very rare.Imperfect Monopoly: It is also called as relative monopoly or simple or limited monopoly. It refers to a single seller market having no close substitute. It means in this market, a product may have a remote substitute. So, there is fear of competition to some extent e.g. Mobile (Cellphone) telcom industry (e.g. vodaphone) is having competition from fixed landline phone service industry (e.g. BSNL in India).Private Monopoly: When production is owned, controlled and managed by the individual, or private body or private organization, it is called private monopoly. e.g. Tata, Reliance, Bajaj, etc. groups in India. Such type of monopoly is profit oriented.Public Monopoly: When production is owned, controlled and managed by government, it is called public monopoly. It is welfare and service oriented. So, it is also called as 'Welfare Monopoly' e.g. Railways, Defence, etc.Simple Monopoly: Simple monopoly firm charges a uniform price or single price to all the customers. He operates in a single market.Discriminating Monopoly: Such a monopoly firm charges different price to different customers for the same product. It prevails in more than one market.Legal Monopoly: When monopoly exists on account of trade marks, patents, copy rights, statutory regulation of government etc., it is called legal monopoly. Music industry is an example of legal monopoly.Natural Monopoly: It emerges as a result of natural advantages like good location, abundant mineral resources, etc. e.g. Gulf countries are having monopoly in crude oil exploration activities because of plenty of natural oil resources.Technological Monopoly: It emerges as a result of economies of large scale production, use of capital goods, new production methods, etc. E.g. engineering goods industry, automobile industry, software industry, etc.Joint Monopoly: A number of business firms acquire monopoly position through amalgamation, cartels, syndicates, etc, it becomes joint monopoly. e.g. Actually, pizza making firm and burger making firm are competitors of each other in fast food industry. But when they combine their business, that leads to reduction in competition. So they can enjoy monopoly power in market.

Related questions

Is Monopoly money legal currency?

No. Monopoly money is only legal tender in the Monopoly game.


What is the only legal monopoly?

Major League Baseball


What is the legal term that describe the controlling body of a monopoly?

Trust


What is the legal term that describes the controlling body of a monopoly?

Trust


How can I use a Monopoly game image?

The images in Monopoly are copyright, which means you will need legal permission from the games copyright holders to publish the image.


Is monopoly the most popular boardgame?

A poll taken in 2016 determined chess to be the most popular board game.


How is legally insanity determined in California?

Legal insanity in California is determined using the McNaghten rule.


In NC what is the legal blood alcohol limit if it is determined the operator was Boating Under the Influence of Intoxicants?

the legal blood alcohol limit if it is determined the operator was Boating Under the Influence of Intoxicants is .08 persent


In Mississippi what is the legal blood alcohol limit if it is determined the operator was Boating Under the Influence of Intoxicants?

0.10% is the legal limit in Mississippi


Are pocket bikes street legal in NC?

Pocket bikes (in most senses) are not street legal in North Carolina. The engine has to have more CCs to be determined as street legal.


Is grooveshark legal yes or no?

As of April 20 2011 this question has not yet been determined.


Kinds of monopoly?

There are many different types of Monopoly. I can name a few. : Monopoly Monopoly Spongebob Squarepants Edition Monopoly Disney Pixar Edition Monopoly Junior