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Essay / Research Paper Abstract
This 8 page paper is written in two parts. The first part analyses price and output determination in a market dominated by a monopoly, noting the likely effects on the public. The second part evaluates whether Microsoft operates against the public interest. The bibliography cites 9 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEmonomicro.rtf
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Unformatted sample text from the term paper:
producer has total control over the market and all price and output factors. In a monopoly there is only one supplier, this means a consumer or user has to accept
that supplier or go without that product or service. The less availability of suitable substitutes the more difficult it will be to go without. For example, if an airline had
a monopoly, there may be the opportunity to use the train, but if the monopoly is a water board then this is an essential and there is likely to be
no acceptable substitute. In this market the consumer has to accept the prices and conditions set by the company. Examples of monopolies
used to be many of the utility companies. People in an area did not have a choice of provider as there was only one. The way in which they operated
was completely in their control as the consumer had no substitute, the product was perfectly inelastic, and as such when prices increased the consumers would have to continue paying. The
only way in which the sector could be influenced was by legislation or government pressure. The company would set the prices where it deemed fit and would control the output.
The arguments against monopolies were that in having this monopoly there was no incentive to be efficient with their customers money. Therefore many of these monopolistic organisations were wasteful
with their resources, and did not look towards new innovations to gain a competitive edge (Gisser 554). They did not need one; this meant that in monopolies the amount spend
of research and development was also less and as such there were very few movements towards better services or products. This left some monopolies which would end up lagging behind
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