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  2. Monopolistic competition - Wikipedia

    en.wikipedia.org/wiki/Monopolistic_competition

    A short-run monopolistic competition equilibrium graph has the same properties of a monopoly equilibrium graph. Long-run equilibrium of the firm under monopolistic competition. The company still produces where marginal cost and marginal revenue are equal; however, the demand curve (MR and AR) has shifted as other companies entered the market ...

  3. Imperfect competition - Wikipedia

    en.wikipedia.org/wiki/Imperfect_competition

    Moreover, a monopoly is the sole provider of a good or service and thus, faces no competition in the output market. Hence, there are significant barriers to market entry, such as, patents, market size, control of some raw material. Examples of monopolies include public utilities (water, electricity) and Australia Post.

  4. Productive efficiency - Wikipedia

    en.wikipedia.org/wiki/Productive_efficiency

    An example PPF: points B, C and D are all productively efficient, but an economy at A would not be, because D involves more production of both goods. Point X cannot be achieved. Productive efficiency occurs under competitive equilibrium at the minimum of average total cost for each good, such as the one shown here.

  5. Monopoly - Wikipedia

    en.wikipedia.org/wiki/Monopoly

    The government may also reserve the venture for itself, thus forming a government monopoly, for example with a state-owned company. [citation needed] Monopolies may be naturally occurring due to limited competition because the industry is resource intensive and requires substantial costs to operate (e.g., certain railroad systems). [3]

  6. Monopoly price - Wikipedia

    en.wikipedia.org/wiki/Monopoly_price

    [1] [2] A monopoly occurs when a firm lacks any viable competition and is the sole producer of the industry's product. [1] [2] Because a monopoly faces no competition, it has absolute market power and can set a price above the firm's marginal cost. [1] [2] The monopoly ensures a monopoly price exists when it establishes the quantity of the ...

  7. 12 Most Famous Monopolies Of All Time

    www.aol.com/news/12-most-famous-monopolies-time...

    Jirat Teparaksa/Shutterstock.com. 6. De Beers. De Beers is one of the most controversial companies among the biggest monopolies of all time, which is saying something.

  8. Market failure - Wikipedia

    en.wikipedia.org/wiki/Market_failure

    Australia is an example that meets this description. [18] A natural monopoly is a firm whose per-unit cost decreases as it increases output; in this situation it is most efficient (from a cost perspective) to have only a single producer of a good. Natural monopolies display so-called increasing returns to scale.

  9. Artificial scarcity - Wikipedia

    en.wikipedia.org/wiki/Artificial_scarcity

    The clearest example is a monopoly, where a single producer has complete control over supply and can extract a monopoly price. An oligopoly - a small number of producers - can also sustain an undersupply if no producers attempt to gain market share with lower prices at higher volume. Lack of supply competition can arise in many different ways: