4 ms·
It'a not that weird if you follow the literature. One of the fundamental aspects of a monopoly is the ability to set prices and therefore extract money from cu
by droopyEyelids 8y ago
It'a not that weird if you follow the literature.
One of the fundamental aspects of a monopoly is the ability to set prices and therefore extract money from customers without providing additional value- like a tax or a rent.
Whenever few enough competitors exist that a company can begin to tax or collect rent without providing additional value, it takes on monopolistic characteristics.