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11.12: Introduction to Monopoly

  • Page ID
    48429
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    What you’ll learn to do: describe characteristics of a monopoly

    3 images: google search engine screenshot, TV remote showing Netflix button, and Budweiser advertisement

    Businesses love the idea of a free-market economy, so why then, would a business want to become a monopolist? Just think…if a business can control the entire market for a product, then they eliminate competition and are almost guaranteed a profit. In this section, you’ll learn about what a monopoly is and why firms try to eliminate their competition.

     

    CC licensed content, Original
    • Introduction to Monopoly. Authored by: Steven Greenlaw and Lumen Learning. License: CC BY: Attribution
    CC licensed content, Shared previously

    11.12: Introduction to Monopoly is shared under a not declared license and was authored, remixed, and/or curated by LibreTexts.

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