Monopoly: Difference between revisions

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::Consumers have no alternative products that can satisfy the same need.<ref>{{Cite web |last= |first= |date= |title= |url=https://economictimes.indiatimes.com/definition/monopoly?from=mdr |website= }}</ref>

*;'''High barriers to entry'''

::Significant obstacles prevent competitors from entering the market.

:*;'''Legal barriers'''

:::Patents, copyrights, government licenses.

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:::Value increases with more users.<ref>{{Cite web |last= |first= |date= |title= |url=https://www.law.cornell.edu/wex/monopoly |website= }}</ref>

:*'''Deliberate exclusionary practices:'''

:::Predatory pricing or exclusive contracts.~~<ref>{{Cite web |last= |first= |date= |title= |url=https://www.law.cornell.edu/wex/monopoly |website= }}</ref>~~

:::Predatory pricing or exclusive contracts.

*;'''Price maker ability'''

::The monopolist can set prices rather than accept market prices.~~<ref>{{Cite web |last= |first= |date= |title= |url=https://kstatelibraries.pressbooks.pub/economicsoffoodandag/chapter/__unknown__-2/ |website= }}</ref>~~

::The monopolist can set prices rather than accept market prices.

*;'''Downward-sloping demand curve'''

::Unlike competitive firms, monopolists face the entire market demand curve.~~<ref>{{Cite web |last= |first= |date= |title= |url=https://kstatelibraries.pressbooks.pub/economicsoffoodandag/chapter/__unknown__-2/ |website= }}</ref>~~

::Unlike competitive firms, monopolists face the entire market demand curve.

*;'''Price discrimination strategies'''

:*;First-degree

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*[[Ticketmaster Entertainment, LLC|Ticketmaster]] is often referred to as a monopoly of live events.

*Tyson Foods.

*Yoshida Kogyo KabushikiKaisha (YKK) founded in 1934, currently controls 90% of the zipper market and is rarely accused of being a ~~monoploly~~.

*Yoshida Kogyo KabushikiKaisha (YKK) founded in 1934, currently controls 90% of the zipper market and is rarely accused of being a monopolly.

==References==

@@ Line 31: / Line 31: @@
 ::Consumers have no alternative products that can satisfy the same need.<ref>{{Cite web |last= |first= |date= |title= |url=https://economictimes.indiatimes.com/definition/monopoly?from=mdr |website= }}</ref>
 *;'''High barriers to entry'''
 ::Significant obstacles prevent competitors from entering the market.
 :*;'''Legal barriers'''
 :::Patents, copyrights, government licenses.
@@ Line 41: / Line 41: @@
 :::Value increases with more users.<ref>{{Cite web |last= |first= |date= |title= |url=https://www.law.cornell.edu/wex/monopoly |website= }}</ref>
 :*'''Deliberate exclusionary practices:'''
-:::Predatory pricing or exclusive contracts.<ref>{{Cite web |last= |first= |date= |title= |url=https://www.law.cornell.edu/wex/monopoly |website= }}</ref>
+:::Predatory pricing or exclusive contracts.
 *;'''Price maker ability'''
-::The monopolist can set prices rather than accept market prices.<ref>{{Cite web |last= |first= |date= |title= |url=https://kstatelibraries.pressbooks.pub/economicsoffoodandag/chapter/__unknown__-2/ |website= }}</ref>
+::The monopolist can set prices rather than accept market prices.
 *;'''Downward-sloping demand curve'''
-::Unlike competitive firms, monopolists face the entire market demand curve.<ref>{{Cite web |last= |first= |date= |title= |url=https://kstatelibraries.pressbooks.pub/economicsoffoodandag/chapter/__unknown__-2/ |website= }}</ref>
+::Unlike competitive firms, monopolists face the entire market demand curve.
 *;'''Price discrimination strategies'''
 :*;First-degree
@@ Line 117: / Line 117: @@
 *[[Ticketmaster Entertainment, LLC|Ticketmaster]] is often referred to as a monopoly of live events.
 *Tyson Foods.
-*Yoshida Kogyo KabushikiKaisha (YKK) founded in 1934, currently controls 90% of the zipper market and is rarely accused of being a monoploly.
+*Yoshida Kogyo KabushikiKaisha (YKK) founded in 1934, currently controls 90% of the zipper market and is rarely accused of being a monopolly.
 ==References==