Types of monopolies
use what you have learned about monopolies to complete th
monopolies
competition in the market.
in a government monopoly, a producer controls the marke
consumers.
in a government monopoly, a producer controls the marke
what do monopolies do to competition in the market

A monopolistic market and a perfectly competitive market are two market structures that have several key distinctions, such as market share, price control, and barriers to entry. In a monopolistic market, there is only one firm that dictates the price and supply levels of goods and services and has total market control. Contrary to a monopolistic market, a perfectly competitive market is composed of many firms, where no one firm has market control. In the real world, no market is purely monopolistic or perfectly competitive. Every real-world market combines elements of both of these ideal types.

Monopolistic Market

In a monopolistic market, firms are price makers because they control the prices of goods and services. In this type of market, prices are generally high for goods and services because firms have total control of the market. Firms have total market share, which creates difficult entry and exit points. Since barriers to entry in a monopolistic market are high, firms able to enter the market are still often dominated by one bigger firm. A monopolistic market generally involves a single seller, and buyers do not have a choice of where to purchase their goods or services.

Purely monopolistic markets are extremely rare and perhaps even impossible in the absence of absolute barriers to entry, such as a ban on competition or sole possession of all natural resources.

Breaking up monopolies

American Telephone & Telegraph (AT&T) and Standard Oil are often cited as examples of the breakup of a private monopoly by government.

The U.S. markets that operate as monopolies or near-monopolies in the U.S. include providers of water, natural gas, telecommunications, and electricity. Notably, these monopolies were actually created by government action

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Hope this helps I didn’t even really know myself I had to look a bit up.

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