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Exactly. In the short term you have some kind of monopoly. Maybe you have the only ice cream shop with a licence to sell booze, or a new supply restricted piec
by jp555 12y ago
Exactly. In the short term you have some kind of monopoly. Maybe you have the only ice cream shop with a licence to sell booze, or a new supply restricted piece of equipment, or exclusive supply of a rare ingredient, famous partner, etc. product differentiation is at its best, a monopoly. All lasting businesses are built on monopolies.