ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
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Natural-production of a product from a single firmGeographical-ownership or control of a manufacturing method, process, or other scientific advance.Technological-monopoly based on the absence of other sellers in a certain geographic area
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Natural-production of a product from a single firmGeographical-monopoly based on the absence of other sellers in a certain geographic area Technological-ownership or control of a manufacturing method, process, or other scientific advance.
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Natural-ownership or control of a manufacturing method, process, or other scientific advance.Geographical-production of a product from a single firmTechnological-monopoly based on the absence of other sellers in a certain geographic area
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Natural-ownership or control of a manufacturing method, process, or other scientific advance.Geographical-monopoly based on the absence of other sellers in a certain geographic area Technological-production of a product from a single firm
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Detailed explanation-1: -The U.S. markets that operate as monopolies or near-monopolies in the U.S. include providers of water, natural gas, telecommunications, and electricity.
Detailed explanation-2: -Natural Monopoly Examples Telecommunications (Telecoms) Utilities and Energy Sector (Electric Power Supply and Grids) Oil and Gas (O&G) Railway and Subway Transportation.
Detailed explanation-3: -Single supplier. A monopolistic market is regulated by a single supplier. Barriers to entry and exit. Profit maximizer. Unique product. Price discrimination. 04-Dec-2022
Detailed explanation-4: -#1 – Simple monopoly. #2 – Pure monopoly. #3 – Natural monopoly. #4 – Legal monopoly. #5 – Public or industrial monopoly. #1 – Maximizes profits. #2 – Sets prices. #3 – Poses high entry barriers. More items