Characteristics Of A Monopoly Essay

In economics, the market is a single seller. In law, the market is a business entity that has substantial market power, that is, the ability, to pay higher costs. Although monopolies may exist large concerns, size is not the feature of a market. The small business may even have the ability to increase costs in the small business (or exchange) . The market is distinguished from the monopsony, in which there is only one purchaser of a product or service; a market may also have monopsony power of the part of a market.

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In order to evaluate monopoly and to determine whether it should be allowed or not, it is vital to understand the characteristics of monopoly and to apply various efficiency concepts such as productive efficiency, allocative efficiency and X-efficiency to both extremes of the market structure, perfect competition and monopoly, to understand their effect on both consumer and producer surplus in the form of households and firms which consequently affect the general economic welfare.

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In first question, I know the characteristics of monopoly. I also learn the differentiated of monopoly in the markets. The second question is about the differentiate between perfect competition, monopolistic competition, monopoly and oligopoly markets. From this question, I learned about the four characteristics of the markets such as the four markets are not same all the times.

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The second characteristic under monopoly is Barrier to Entry and Exit the market, some of the barriers are government license, patents and copyright, control of marketing channels. This is the reason that monopoly is very hard to entry. Barrier to exit must go to apply to public utilities such as local telephone companies, natural gas distribution companies, electricity companies, and garbage collection companies.

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So, tell which of these arguments you make more credible, and why. 2.Comparing religions: Consider this worldview of one of these monotheistic religions we have talked about with one different belief we have examined, mono or polytheistic. Tell three particular levels of similarity and three clear differences in each world perspective. Had these similarities and differences, could you have these two religions compared are basically in odds or in accord concerning their understandings of human

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Japan is considered a nation as it has defined territories, government and the residents share a common culture. Moreover Japan traditionally seen as an example of a nation-state and also the largest of the nation states, with population in excess of 120 million. It should be noted that Japan has a small number of minorities such as RyÅ«kyÅ« peoples, Koreans, and Chinese, and on the northern island of HokkaidÅ, the indigenous Ainu minority. However, they are either numerically insignificant (Ainu), their difference is not as pronounced (though Ryukyuan culture is closely related to Japanese culture).