Week 3 Discussion 2 - This is because for both social and...

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Monopolies are not necessarily illegal, but definitely have a negative connotation that goes with them. It only means that that company dominates one area of industry or one service industry. That company has power over pricing because of the lack of competition. The government actually considers having an electrical company monopoly to be in the best interest of the public.
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Unformatted text preview: This is because for both social and technical rationales more than one provider would be inefficient. This monopoly is referred to as a natural monopoly. The same premise holds true for cable companies because of the cost of laying and maintaining cable lines. http://www.directessays.com/viewpaper/200534.html http://www.cato.org/pubs/pas/pa034.html...
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