Weve observed that there are few examples of perfectly competitive markets in the real world, yet we
Fantastic news! We've Found the answer you've been seeking!
Question:
We’ve observed that there are few examples of perfectly competitive markets in the real world, yet we use the model of perfect competition as a comparison with other market structures. Can you think of any examples of monopoly in the real world? Describe something you believe could possibly called a monopoly and explain why it fits the characteristics of a monopoly.
Is your example a true, unregulated monopoly? (For example, Microsoft has been called a monopoly, but it is not the sole producer of computer operating systems, so strictly speaking it’s not a monopoly.)
If there are few true monopolies, what can we learn from studying that market structure?
Related Book For
Accounting Information Systems
ISBN: 978-1133935940
10th edition
Authors: Ulric J. Gelinas, Richard B. Dull
Posted Date: