Here is the synopsis of our sample research paper on Market Structures. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 7 page paper discusses the two market structures, monopolies and oligopolies. Bibliography lists 7 sources.
Page Count:
7 pages (~225 words per page)
File: D0_HVMarStu.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
monopoly" (Market structures). This paper discusses two of these structures, oligopolies and monopolies. Monopolies An economic monopoly is defined as "a persistent market situation where there is only
one provider of a kind of product or service. Monopolies are characterized by a lack of economic competition for the good or service that they provide and a lack
of viable substitute goods" (Monopoly, 2006). There are several types of monopolies, including legal monopolies, natural monopolies and local monopolies (Monopoly, 2006). A legal monopoly is one
"based on laws explicitly preventing competition"; its also called a "de jure monopoly" (Monopoly, 2006). When a monopoly of this kind is "granted to a private party," it is
called a "government-granted monopoly," and when such a monopoly is operated by the government itself, it is a "government monopoly or state monopoly" (Monopoly, 2006). AT&T was a "de
jure" monopoly; AT&T "was granted monopoly power by the US government, only to be broken up in 1982 following a Sherman Antitrust suit" (Monopoly, 2006). A "natural pool" monopoly
is "a monopoly that arises in industries where economies of scale are so large that a single firm can supply the entire market without exhausting them" (Monopoly, 2006). "Economies of
scale" is the term used to describe the phenomenon by which individual units of anything become cheaper as more units are manufactured; it can be applied to literally any industry
(A RAIN glossary). In these terms, its easy to see why a large firm has an advantage: it can produce many more units than a small one can,
so that the large firm will gain a monopoly. "In these industries competition will tend to be eliminated as the largest (often the first) firm develops a monopoly through
...