0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Is the Department of Transportation a market monopoly?
The US Department of Transportation is a government department, not a market monopoly
What form of legal monopolies still exist today?
Perhaps a better question might be "why do monopolies arise" however the current question will do just fine. And better yet, why can they arise in a democratic nation. Here is a summary that answers the monopoly question:A. A monopoly is a company that is the sole seller of a product without close substitutes. A monopoly is able to remain as such in a market only if there are barriers to entry of that market. Basically we have a situation where other companies cannot compete with the monopoly company. There are several reasons for these barriers in an open market society:A1. A key resource of a product is owned by one company. This is rare but as an example, De Beers owns 80% of the diamond mines in South Africa and thus controls the diamond market.A2. The government has given the monopoly company the sole exclusive rightto produce & sell a product. This is common but the monopoly has a 20 year time limit because the US Patent Office has awarded the company a patent. The long term benefit of patent laws is to enhance creativity and intellectual achievement.A3. A natural monopoly arises when a single company can supply a good such as water at a lessor price than two or more other companies can. ( here we have a government overseer dept. to safeguard a runaway market ).
How do you use the greek word monopoly in a sentence?
The us accused micorosft of being a monoply In the 1900s huge railroad and steel companies called trusts had monopolies The queens favorite's got rich from a monopoly on imported goods .
Why monopoly does not have a supply curve?
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.
Can a pure monopoly really exist?
yes. even tho its illegal in the US other countries still allow monopoly. like mexico
Is the Department of Transportation a market monopoly?
The US Department of Transportation is a government department, not a market monopoly
What form of legal monopolies still exist today?
Perhaps a better question might be "why do monopolies arise" however the current question will do just fine. And better yet, why can they arise in a democratic nation. Here is a summary that answers the monopoly question:A. A monopoly is a company that is the sole seller of a product without close substitutes. A monopoly is able to remain as such in a market only if there are barriers to entry of that market. Basically we have a situation where other companies cannot compete with the monopoly company. There are several reasons for these barriers in an open market society:A1. A key resource of a product is owned by one company. This is rare but as an example, De Beers owns 80% of the diamond mines in South Africa and thus controls the diamond market.A2. The government has given the monopoly company the sole exclusive rightto produce & sell a product. This is common but the monopoly has a 20 year time limit because the US Patent Office has awarded the company a patent. The long term benefit of patent laws is to enhance creativity and intellectual achievement.A3. A natural monopoly arises when a single company can supply a good such as water at a lessor price than two or more other companies can. ( here we have a government overseer dept. to safeguard a runaway market ).
What type of economy does US have?
ran by GDP- Gross Domestic product mixed market economymixed market economy
How can you sell a digital product in US?
You can sell a digital product in the US by creating an online market or website that sells the product. You could advertise the product on websites that have similar products or through newspapers or magazines or on television.
What are some sentences using the word monopoly?
"Monopoly suppliers are publicly owned." "Monopoly of wisdom." "Monopoly of truth seems to threaten us."
How do you use the greek word monopoly in a sentence?
The us accused micorosft of being a monoply In the 1900s huge railroad and steel companies called trusts had monopolies The queens favorite's got rich from a monopoly on imported goods .
How can you get Kamasutra vodka in the US?
Price-Rite Liquors in New Jersey is currently selling the product. Kamasutra and Herborium Group have teamed up to introduce this great product to the US market!
Why does the government discourage monopolies?
because it is unfair for the owners, now no one could lower their prices so much low that everyone would go there and they cant make everyone to loss and raise prices and become rediculisly rich as Rockefeller (383 billion ) 383 000 000 000 000
Effects of US stock market crash on western Europe?
Simle just type in Chief Aleel on google
What are the difference between international market and global market?
international market refers to us as a medium of trading your product in another country whiles global market is where your goods ,service, labor and financial market led to business activities in the whole world
What is product innovation?
because if we are not succsesfull in our plan and also in market and our product image has been removed from customes and consumers mind so we should make a change in our product because of this reason product innovation is more importan for us
What is production innovation?
because if we are not succsesfull in our plan and also in market and our product image has been removed from customes and consumers mind so we should make a change in our product because of this reason product innovation is more importan for us
