Answered: Explain the three reason why monopolies…

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Economics

Explain the three reason why monopolies arise.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter9: Monopoly

Section: Chapter Questions

Problem 14RQ: In what sense is a natural monopoly natural?

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.6. Explain the three reason why monopolies arise.

Definition Definition Market structure in which a single company dominates the entire industry. In a monopoly market, there are no close substitutes for the goods and services offered by the monopoly.

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