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    Enterprise Monopsony Market Oligopoly Competition Good Service Substitute Goods Monopoly Price Marginal Cost Monopoly Profit

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    Raunaq
    A monopoly exists when a single seller dominates a market. Monopolies are characterized by a lack of competition, substitute goods, and the ability to set high prices. Monopolies can form through government license, ownership of critical resources, or high barriers to entry. Two case studies examined are Microsoft's dominance of the computer software market in the 1990s and Egypt's dominant steel producer acting as a monopoly in its domestic market due to high tariffs. Antitrust laws aim to discourage monopolistic practices and ensure open competition.

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    Enterprise Monopsony Market Oligopoly Competition Good Service Substitute Goods Monopoly Price Marginal Cost Monopoly Profit

    Uploaded by

    Raunaq
    23 views2 pages
    A monopoly exists when a single seller dominates a market. Monopolies are characterized by a lack of competition, substitute goods, and the ability to set high prices. Monopolies can form through government license, ownership of critical resources, or high barriers to entry. Two case studies examined are Microsoft's dominance of the computer software market in the 1990s and Egypt's dominant steel producer acting as a monopoly in its domestic market due to high tariffs. Antitrust laws aim to discourage monopolistic practices and ensure open competition.

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    A monopoly exists when a single seller dominates a market. Monopolies are characterized by a lack of competition, substitute goods, and the ability to set high prices. Monopolies can form through government license, ownership of critical resources, or high barriers to entry. Two case studies examined are Microsoft's dominance of the computer software market in the 1990s and Egypt's dominant steel producer acting as a monopoly in its domestic market due to high tariffs. Antitrust laws aim to discourage monopolistic practices and ensure open competition.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    23 views2 pages

    Enterprise Monopsony Market Oligopoly Competition Good Service Substitute Goods Monopoly Price Marginal Cost Monopoly Profit

    Uploaded by

    Raunaq
    A monopoly exists when a single seller dominates a market. Monopolies are characterized by a lack of competition, substitute goods, and the ability to set high prices. Monopolies can form through government license, ownership of critical resources, or high barriers to entry. Two case studies examined are Microsoft's dominance of the computer software market in the 1990s and Egypt's dominant steel producer acting as a monopoly in its domestic market due to high tariffs. Antitrust laws aim to discourage monopolistic practices and ensure open competition.

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    © All Rights Reserved
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    ABSTRACT

    A monopoly exists when a specific person or enterprise is the only supplier of a particular
    commodity. This contrasts with a monopsony which relates to a single entity's control of a
    market to purchase a good or service, and with oligopoly which consists of a few sellers
    dominating a market.Monopolies are thus characterized by a lack of economic competition to
    produce the good or service, a lack of viable substitute goods, and the possibility of a high
    monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The
    verb monopolise or monopolize refers to the process by which a company gains the ability to
    raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a
    monopoly is a business entity that has significant market power, that is, the power to charge
    overly high prices.Although monopolies may be big businesses, size is not a characteristic of a
    monopoly. A small business may still have the power to raise prices in a small industry (or
    market).

    In a monopoly market, factors like government license, ownership of resources, copyright and
    patent and high starting cost make an entity a single seller of goods. All these factors restrict the
    entry of other sellers in the market. Monopolies also possess some information that is not known
    to other sellers.

    Characteristics associated with a monopoly market make the single seller the market controller
    as well as the price maker. He enjoys the power of setting the price for his goods.

    Monopolies can be established by a government, form naturally, or form by integration.

    Monopolies may be naturally occurring due to limited competition because the industry is
    resource intensive and requires substantial costs to operate.

    Case studies on Industrial Monopoly :-

    Microsoft Monopoly Case Study

    This as a serious controversy, as Microsoft had been producing some of the latest innovations in the
    personal and industry computer software and processing industries. There were several issues that were
    at the forefront of the investigation against Microsoft. The company was being blamed for holding a
    monopoly of Intel computer systems (Fisher 2000). The company held such a monopoly over the
    innovative new computer systems and software used in Intel Processors, it had the capability of
    charging much more than what would be acceptable within a more competitive market (Wilcox 1999).

    The Case Of Egyptian Steel

    The local steel industry in Egypt has been protected by high tariffs which were relaxed lately. The
    market is segmented according to steel type and there is a dominant steel producer acting as a
    monopoly in the market. Due to barriers to entry in the short run and the dominant market
    position of the monopoly, price elasticity became more demand inelastic. However, the dominant
    market player carries an innovative edge over its competitors.

    Antitrust Laws

    Antitrust laws and regulations are put in place to discourage monopolistic operations—
    protecting consumers, prohibiting practices that restrain trade, and ensuring a marketplace
    remains open and competitive.

    Various types of industrial monopoly topics and case studies with case analysis are covered in
    this project report.

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