Description
Define the different types of monopolies. How does a monopoly achieve maximum profits. Name at least two firms that have a monopoly in their industry and what are their products or services. Discuss the concept that if a Monopoly wants to sell more products, it has to reduce it's price.
After your initial post, respond to at least two of your classmates’ posts. Your initial post should be at least six complete sentences and your reply to your classmates' posts should be at least three complete sentences.
Explanation & Answer
one document has a reference incase you needed. let me know if you need adjustments
Running head: MONOPOLIES
Monopolies
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MONOPOLIES
2
Monopolies
The three monopolies to be discussed in this paper includes natural monopolies. These
are monopolies that have no government involvement. An example includes building different
power lines by different competitors to supply the same locality. This will not make them profits
because the cost will be very and very impractical. Natural monopolies mostly supply
commodities at lower prices than the normal market rates. State monopolies involve industries
that are under the direct control of the government for example postal services. The state owns
these monopolies to prevent the prices from going up as they would have under private
management. The final monopolies are Geographic monopolies which involve t...
