> So every company is therefore a monopoly on their products since competitors can’t sell them? Yes. It has a monopoly over its product. In terms of whether w

> So every company is therefore a monopoly on their products since competitors can’t sell them? Yes. It has a monopoly over its product. In terms of whether we care about their monopoly power, two things matter: 1. Whether they are close substitutes to those products; and 2. Whether there is free entry & exit in the industry. Given that a monopolist will only operate along the elastic portion of the demand curve it faces, availability of substitutes is almost a given. When the monopolist makes supranormal profits, other competitors see an opening for providing those substitutes which reduces the welfare loss from Coca Cola's monopoly over its products.