Monopolies occur when a company is so good at something no one can compete. They may be good at the product. They may offer a service that no one can compete with. They, unfortunately, may be very good at stifling the competition through dishonest means.
The great thing about monopolies though is that they eventually fail unless supported by the government.
It's a monopoly.
monopoly,perfect competition,monopolistic competition,
What is the difference between perfect competition and pure monopoly
Perfect competition allows for fairer price structures than those that would likely be seen in a monopoly.
Perfect competition and monopoly
It's a monopoly.
Monopoly
Perfect Competition, Monopoly, Monopolistic Competition or Oligopoly
monopoly,perfect competition,monopolistic competition,
What is the difference between perfect competition and pure monopoly
Perfect competition allows for fairer price structures than those that would likely be seen in a monopoly.
Perfect competition and monopoly
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A perfect monopoly is where a company that makes goods and services has absolutely no competition from anyone else. For example, Coca Cola is already on its way to a perfect monopoly although companies like Pepsi are still competeing.
pure or perfect, monopolistic, oligopoly, and monopoly
Yes, perfect competition allows the market to dictate prices where as a monopoly can set any price because there is no other alternative.
Economists use two sets of concepts to answer questions. First they apply efficiency concepts such as productive efficiency. Then they ask how perfect competition and monopoly affect the consumer.