Lecture 9 Monopoly

Lecture 9 Monopoly - Monopoly Monopoly arises when there is...

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Monopoly Monopoly arises when there is one firm, which produces a good or service that has no close substitutes and in which the firm is protected by a barrier preventing the entry of new firms. In some places, the phone, gas, electricity, and water suppliers are local monopolies – monopolies restricted to a given location. Microsoft Corporation is an example of a global monopoly.
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Numerical Example
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This note was uploaded on 04/04/2012 for the course ECON 010 taught by Professor Stein during the Fall '07 term at UPenn.

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Lecture 9 Monopoly - Monopoly Monopoly arises when there is...

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