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Why must a monopoly supply a good or service?

Why must a monopoly supply a good or service?

Why must a monopoly supply a good or service?

Market with a single firm that produces a good or service for which no close substitute exists and is protected by a barrier that prevents other firms from selling that good or service. A monopoly sells a good or service that has no substitute. A constraint that protects a firm from potential competitors.

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  • 2023-11-22 10:41:04
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What are 3 threats to a monopoly?
The disadvantages of monopolies include price-fixing, low-quality products, lack of incentive for innovation, and cost-push inflation.
2024-02-20 08:48:02


Is a 1800 chess player good?
First of all 1800 is NOT an experienced GOOD player, It's the rating that goes with a very average mediocre club player. In the US Chess Federation
US Chess Federation
The United States Chess Federation (also known as US Chess or USCF) is the governing body for chess competition in the United States and represents the U.S. in FIDE, the World Chess Federation.
https://en.wikipedia.org › United_States_Chess_Federation
United States Chess Federation - Wikipedia
, which is not terribly atypical for Elo ratings
Elo ratings
The Elo rating system measures the relative strength of a player in some games, such as chess, compared to other players. Its creator, Arpad Elo, was a physics professor in the United States and a chess master who worked to improve the way the U.S. Chess Federation measured their players' skill levels.
https://www.chess.com › terms › elo-rating-chess
Elo Rating System - Chess Terms
, an 1800 player stands above 88%-90% of all rated players.
2024-01-11 21:47:36


Can a monopoly break even?
In the long-run, the demand curve of a firm in a monopolistic competitive market will shift so that it is tangent to the firm's average total cost curve. As a result, this will make it impossible for the firm to make economic profit; it will only be able to break even.
2023-11-09 06:43:17


Is a 60hz 4k tv good for gaming?
For most people, a TV with a 60Hz refresh rate is good enough since there isn't much 4k content that goes past 60 fps. However, 120Hz TVs with HDMI 2.1 support are beneficial to gamers as they allow for higher frame rates.
2023-06-23 13:46:04

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