When a Monopoly Is the Only Reasonable Situation in the Market?

Eseja mikroekonomikā (augstskolas līmenis) - When a monopoly is the only reasonable situation in the market? + uzskatāmi grafiki. Ieskats darbā - A monopoly implies an exclusive possession of a market by a supplier of a product or a service for which there is no substitute. In this situation the supplier is able to determine the price of the product without fear of competition from other sources or through substitute products. It is generally assumed that a monopolist will choose a price that maximizes profits.