3 ms·
Hmm. Why should the word monopoly only refer to the legal mechanism by which market exclusivity is enforced rather than referring to the resulting market struct
by nrr 24d ago
Hmm. Why should the word monopoly only refer to the legal mechanism by which market exclusivity is enforced rather than referring to the resulting market structure or market power?
If I'm not legally prohibited from competing with a firm, but that firm's position nonetheless also makes it unprofitable for me to enter or compete, what is that market structure called?
- WalterBright 24d agoIf it's unprofitable for you, that means the other firm is doing a better job serving customers than you.
- nrr 24d agoDoes it? This is an empirical observation matched with a causal claim. How have you controlled for your confounding variables?
- eadler 20d agoResponding to you generally and not to this comment. I want to thank you for explaining economic principles even if the OP doesn't understand them. As someone who has less econ background then they'd like — your explanations are clear.