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Essay

Monopoly

Essay specific features

 

Issue:

Business

 

Written by:

Charity R

 

Date added:

February 2, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

1 / 278

 

Was viewed:

5370 times

 

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Essay content:

[2] Alternatively (a modern and less common usage), it may be used as a verb or adjective to refer to the process (see Monopolism) by which a firm gains persistently greater market share than what is expected under perfect competition. The latter usage of the term is invoked in the theory of monopolistic competition...
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The latter usage of the term is invoked in the theory of monopolistic competition. In political discourse, the term monopoly is frequently invoked as a blanket generalization in criticism of firms with large market share or lack of what's perceived as "fair" competition. [3] The latter usage of the term is more predominant among non-economists than economists and while its assertions may hold true, it is not based upon the definition of "monopoly," used by economists...
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