Title: Monopoly

Essay Details

Subject: Business
Date: September 27, 2014
Level: University
Grade: A
Length: 1 / 278
No of views: 0
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Essay text:

[2] Alternatively (a modern and less common usage), it may be used as a verb or adjective to refer to the process (see Monopolism) by which a firm gains persistently greater market share than what is expected under perfect competition. The latter usage of the term is invoked in the theory of monopolistic competition...

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The latter usage of the term is invoked in the theory of monopolistic competition. In political discourse, the term monopoly is frequently invoked as a blanket generalization in criticism of firms with large market share or lack of what's perceived as "fair" competition. [3] The latter usage of the term is more predominant among non-economists than economists and while its assertions may hold true, it is not based upon the definition of "monopoly," used by economists...

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