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  2. Monopoly - Wikipedia

    en.wikipedia.org/wiki/Monopoly

    A monopoly has considerable although not unlimited market power. A monopoly has the power to set prices or quantities although not both. [37] 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 ...

  3. 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 ...

  4. Monopoly price - Wikipedia

    en.wikipedia.org/wiki/Monopoly_price

    In microeconomics, a monopoly price is set by a monopoly. [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]

  5. Monopoly profit - Wikipedia

    en.wikipedia.org/wiki/Monopoly_profit

    [4] [2] The old AT&T monopoly, which existed before the courts ordered its breakup and tried to force competition in the market, had to get government approval to raise its prices. [2] The government examined the monopoly's costs and determined if the monopoly should be allowed to raise its price; if the government felt that the cost did not ...

  6. Market structure - Wikipedia

    en.wikipedia.org/wiki/Market_structure

    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]

  7. 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 ...

  8. Competition (economics) - Wikipedia

    en.wikipedia.org/wiki/Competition_(economics)

    The monopolistic competition market has a relatively large degree of competition and a small degree of monopoly, which is closer to perfect competition, and is much more realistic. It is common in retail, handicraft, and printing industries in big cities. Generally speaking, this market has the following characteristics. 1.

  9. Monopolistic competition in international trade - Wikipedia

    en.wikipedia.org/wiki/Monopolistic_competition...

    2. This model dismisses the issue of interdependence when a firm sets its price. The firm will act as if it were a monopoly regarding the price it sets, not considering the potential responses from its competitors. The justification is that there are numerous firms in the market, so each receives only scant attention from the others.