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A "monopoly" is the control of a commodity or service by one group (usually a small number of companies) so that they control the available supply - they can profit because they can charge whatever prices they want.

The board game of Monopoly applies this on a limited basis by allowing property owners to charge much larger rents when they have control of an area of the board (the colored property groups). By developing these even further with houses and hotels, they can command ever larger fees from other players who land on their properties. Property groups where monopolies are not formed can only charge comparative small rents and are thus at a competitive disadvantage.

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13y ago

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