4 ms·
Of course you can have a monopoly on a retail product, how else could anyone ever introduce a new type of product to the market?
by corin_ 11y ago
Of course you can have a monopoly on a retail product, how else could anyone ever introduce a new type of product to the market?
- jevgeni 11y agoNo. Monopoly is a form of market organization. Having a uniquely specific product doesn't make it a monopoly. If I introduce a new five-wheeled bicycle to the market, that doesn't mean I have a monopoly on the bicycle market.
- corin_ 11y agoNo, monopoly is about being the only one doing something, not about "marketing organization". If you invent the first bicycle and nobody else makes them then you do indeed have a monopoly on the bicycle market. The difference is just that we define "bicycle" as the market, not "5-wheeled bicycle".
- marrs 11y agoor a pentacycle :) https://horshamphotography.files.wordpress.com/2014/10/img_5259.jpg https://horshamphotography.files.wordpress.com/2014/10/img_5...
- jevgeni 11y agoThis is the best thing ever.
- jevgeni 11y agoMonopoly, monopsony, oligopoly, etc., are all forms of market organization. This is textbook. [Update] Here we go: https://en.wikipedia.org/wiki/Industrial_organization#Market_structures https://en.wikipedia.org/wiki/Industrial_organization#Market...