ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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geographic monopoly
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natural monopoly
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government monopoly
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technological monopoly
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Detailed explanation-1: -Technological Monopoly-A monopoly that is based on ownership or control of a manufacturing method, process, or other scientific advance.
Detailed explanation-2: -What is a Technology Monopoly? Facebook, Telus, Google, Rogers, Microsoft, Amazon-you have heard their names and you might even use them on a day to day basis. Raking in billions of consumer dollars each year, these tech giants have dominated the global market.
Detailed explanation-3: -Simple Monopoly – A simple monopoly is one in which a single seller sells its product or service for a single price. There is no price discrimination in a simple monopoly. Discriminating Monopoly – A discriminating monopoly is one where a single seller does not sell his product or service for a single price.
Detailed explanation-4: -Natural Monopoly. Only one company providing a public good or service. Technological Monopoly. When a single firm has exclusive rights over the technology used to manufacture it. Geographic Monopoly. Government Monopoly. Least Threat: Four Types of Monopolies.