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Essay / Research Paper Abstract
This 3-page paper discusses the issue of a pure monopoly and whether such a thing exists. Bibliography lists 1 source.
Page Count:
3 pages (~225 words per page)
File: AS43_MTmonodisc.doc
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Unformatted sample text from the term paper:
listed below. Citation styles constantly change, and these examples may not contain the most recent updates. NO SUCH THING AS MONOPOLY? Research Compiled
by 9/2010 Please According
to the following statement, "no firm is completely sheltered from rivals; all firms compete for consumer dollars. If this is the case, then pure monopoly doesnt exist."
There is a great deal of truth to this statement - in many respects, there is no such thing as a pure monopoly. Lets examine
the reasons by examining what, exactly, constitutes a monopoly. A monopoly is a situation in which a single organization, company, group or entity
owns 100% of a given market for a given product or service (Monopoly, 2010). Monopoly is also characterized by a lack of competition (which, in turn, can result in high
prices and not-so-great products) (Monopoly, 2010). However, the website Investopedia points out, and quite rightly, that the system doesnt work when there
is only one provider of a good or service, because there is no incentive for improvement when consumers demand it (Monopoly, 2010). A lack of improvement means a lack of
demand, and a lack of demand means that company eventually goes out of business. But what about issues such as patents on
pharmaceuticals? This is a monopoly of sorts - basically, pharma companies take out patents on drugs for a specific period of time to ensure that no other company comes in
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