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rockafeller (standard oil), carnegie(steel), vanderbilt(railroad)

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15y ago

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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.


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perfectly competitive industry become a monopoly, what changes


One difference between a perfectly competitive firm and a monopoly is that a perfectly competitive firm produces where -?

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