Unit 2.11(3) Market power - Monopoly(HL)

IB Economics: Unit 2.11(3) Market power - Monopoly(HL)

In theory, a monopoly exists when one firm"s output accounts for the total market supply of an industry. In reality, there are very few examples of pure monopolies because it is nearly always possible to find competitors supplying substitutes for the good produced by the firm that is considered to be a monopoly.The link to the attached pdf is revision material from Unit 2.11(3) Market power - Monopoly(HL). The revision...

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