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  2. Natural monopoly - Wikipedia

    en.wikipedia.org/wiki/Natural_monopoly

    Two different types of cost are important in microeconomics: marginal cost and fixed cost.The marginal cost is the cost to the company of serving one more customer. In an industry where a natural monopoly does not exist, the vast majority of industries, the marginal cost decreases with economies of scale, then increases as the company has growing pains (overworking its employees, bureaucracy ...

  3. Monopoly - Wikipedia

    en.wikipedia.org/wiki/Monopoly

    A natural monopoly is an organization that experiences increasing returns to scale over the relevant range of output and relatively high fixed costs. [70] A natural monopoly occurs where the average cost of production "declines throughout the relevant range of product demand".

  4. Ramsey problem - Wikipedia

    en.wikipedia.org/wiki/Ramsey_problem

    The Ramsey problem, or Ramsey pricing, or Ramsey–Boiteux pricing, is a second-best policy problem concerning what prices a public monopoly should charge for the various products it sells in order to maximize social welfare (the sum of producer and consumer surplus) while earning enough revenue to cover its fixed costs.

  5. Monopsony - Wikipedia

    en.wikipedia.org/wiki/Monopsony

    where () is the original supply curve and is the minimum wage. The new curve has thus a horizontal first branch and a kink at the point = as is shown in the diagram by the kinked black curve MC' S (the black curve to the right of point B). The resulting equilibria (the profit-maximizing choices that rational companies will make) can then fall ...

  6. Market structure - Wikipedia

    en.wikipedia.org/wiki/Market_structure

    A firm is a natural monopoly if it is able to serve the entire market demand at a lower cost than any combination of two or more smaller, more specialized firms. Or natural obstacles, such as the sole ownership of natural resources, De beers was a monopoly in the diamond industry for years. Monopsony, when there is only a single buyer in a ...

  7. Allocative efficiency - Wikipedia

    en.wikipedia.org/wiki/Allocative_efficiency

    Allocative Efficiency example . From the graph we can see that at the output of 40, the marginal cost of good is $6 while the price that consumer is willing to pay is $15. It means the marginal utility of the consumer is higher than the marginal cost. The optimal level of the output is 70, where the marginal cost equals to marginal utility.

  8. Here are some Monopoly success strategies for real life

    www.aol.com/finance/2016-07-24-monopoly-success...

    With Monopoly just having turned 80 this year, many real-life personal-finance lessons can be learned from the classic money-loving board game, which is now made in 47 languages and sold in 114 ...

  9. Market power - Wikipedia

    en.wikipedia.org/wiki/Market_power

    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 ...