Real Life Monopoly with Type and Barrier When we consider monopolies, it is interesting to note that in the long run, most perceived monopolies do have to compete with other monopoles. That s, if my electric company is bad, I can move to another electric company's zone. For this discussion, you should consider the short run where it may not be an option to simply move to an area served by another company. For this discussion, your task is to 1. Think of a monopoly that is prevalent in your life and identify whether it is a natural or legal monopoly 2. Explain the barrier that helped establish this monopoly as a monopoly 3. Reply to two of your peers posts Hint: Reference Table 9.1 in Section 1, Barriers to Entry Learning Objectives: 2.1.1 - Distinguish between a natural monopoly and legal monopody; 9.1.2-Explain how economies of scale and the control of natural resources led to the necessary formation of legal monopolies; 9.1.3 Analyze the importance of trademarks and potents in promoting Innovation Real Life Monopoly with Type and Barrier When we consider monopolies, it is interesting to note that in the long run, most perceived monopolies do have to compete with other monopoles. That s, if my electric company is bad, I can move to another electric company's zone. For this discussion, you should consider the short run where it may not be an option to simply move to an area served by another company. For this discussion, your task is to 1. Think of a monopoly that is prevalent in your life and identify whether it is a natural or legal monopoly 2. Explain the barrier that helped establish this monopoly as a monopoly 3. Reply to two of your peers posts Hint: Reference Table 9.1 in Section 1, Barriers to Entry Learning Objectives: 2.1.1 - Distinguish between a natural monopoly and legal monopody; 9.1.2-Explain how economies of scale and the control of natural resources led to the necessary formation of legal monopolies; 9.1.3 Analyze the importance of trademarks and potents in promoting Innovation