Monopoly

A monopoly is a market structure in which there is only one producer or seller for the product, which makes the business the industry. This monopoly faces little to no competition and has power in their pricing. A good example is here in my county and possibly the state, there is only one power company. There is no way to price match with other electric company’s for a better rate. So…. Why don’t more companies simply enter to compete in these monopolistic markets? Isn’t there a lot of money to make?

 

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