Create a scenario in which a monopoly might form and analyze that monopoly situation.  To do that, please complete the following: Describe your fictitious company and its product that it sells on the market.  Explain the barrier that you have that makes this company a monopoly.

Economics:
10th Edition
ISBN:9781285859460
Author:BOYES, William
Publisher:BOYES, William
Chapter25: Monopoly
Section: Chapter Questions
Problem 14E
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Create a scenario in which a monopoly might form and analyze that monopoly situation.  To do that, please complete the following: Describe your fictitious company and its product that it sells on the market.

 Explain the barrier that you have that makes this company a monopoly.

1.  Draw and post a monopoly diagram for that company and show that company earning profits.

 

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