monopoly---Is a corporation that has total market share of a good or
service, capable of fixing the selling price for it, and the quantity of it
produced. It is very powerful indeed, especially if the good it is producing is necessary for survival. Natural monopolies exist where too many
cooks spoil the broth. See also market share and increasing returns to scale.
service, capable of fixing the selling price for it, and the quantity of it
produced. It is very powerful indeed, especially if the good it is producing is necessary for survival. Natural monopolies exist where too many
cooks spoil the broth. See also market share and increasing returns to scale.