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Read this article and answer question in 3-4 paragraphs. http://www.econlib.org/library/Enc/Monopoly.htmlQuestion: What do you think is an important example of a private firm with established or rapidly emerging monopoly power? Why do you think it is a monopoly? How did the firm obtain its monopoly power? What, if anything, do you think limits this particular firm's monopoly power? From the perspective of society as a whole, do you think this particular firm's monopoly power is a good thing or a bad thing? Why or why not? Please use an example of a monopoly that has not been created by government actions or policies.
	
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Read this article and answer question in 3-4 paragraphs.  
http://www.econlib.org/library/Enc/Monopoly.html
Question:  
What do you think is an important example of a private firm with established or rapidly emerging monopoly power? Why do you think it is a monopoly? How did the firm obtain its monopoly power? What, if anything, do you think limits this particular firm's monopoly power? From the perspective of society as a whole, do you think this particular firm's monopoly power is a good thing or a bad thing? Why or why not? Please use an example of a monopoly that has not been created by government actions or policies.
Monopoly denotes the existence of a single firm in the market which does not have any substitute products. So, absence of substitutes is the basis for monopoly definition. The existence of greater barriers to entry enables to deter the competition in the market. In other words, Monopolist is the sole producer in the market. Public utilities like water, electricity, cable TV or the telephone services are the examples of pure monopoly. It is very difficult to provide the example of private firm with pure monopoly power. As far as the private firm is concerned, De Beer provides the classic example of monopoly. DE Beer  is a South African Company established in the year 1890 and by the end of twentieth century ,

Read this article and answer question in 3-4 paragraphs. http://www.econlib.org/library/Enc/Monopoly.html Question: What do you think is an important example of a private firm with established or...

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