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In economics, a government-granted monopoly (also called a "de jure monopoly" or "regulated monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.
A state monopoly can be characterized by its commercial behavior not being effectively limited by the competitive pressures of private organisations. [1] [2] This occurs when its business activities exert an extensive influence within the market, can act autonomously of any competitors, and potential competitors are unable to successfully compete with it.
A monopoly is a price maker. [38] The monopoly is the market [39] and prices are set by the monopolist based on their circumstances and not the interaction of demand and supply. The two primary factors determining monopoly market power are the company's demand curve and its cost structure. [40]
OneLegacy, the OPO with a monopoly in southern California, got dinged by an inspector general report after it spent $327,000 on Rose Bowl tickets and other events in 2006. Some of those costs were ...
The total surplus of perfect competition market is the highest. And the total surplus of imperfect competition market is lower. In the monopoly market, if the monopoly firm can adopt first-level price discrimination, the consumer surplus is zero and the monopoly firm obtains all the benefits in the market. [15]
As someone who has worked at the Federal Deposit Insurance Corporation, the USAID and New York State Department of Financial Services (NYDFS) – often with the goal of supporting responsible ...
In a government monopoly, the holder of the monopoly is the government itself and the group of people who make business decisions is an agency under the government's direct authority. In a government-granted monopoly, the coercive monopoly is enforced through law, but the holder of the monopoly is formally a private firm , or a subsidiary ...
The emergence of oligopoly market forms is mainly attributed to the monopoly of market competition, i.e., the market monopoly acquired by enterprises through their competitive advantages, and the administrative monopoly due to government regulations, such as when the government grants monopoly power to an enterprise in the industry through laws ...