https://padlet.com/mairin_j_barrett/monopoly en-us 2016-11-01 16:05:29 UTC 2016-11-03 19:02:24 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Simplehouse.png mairin_j_barrett https://padlet.com/mairin_j_barrett/monopoly/wish/134534962

Has only ONE seller

Product sold has no close substitutes  

There are significant barriers to enter or exit the market

]]> 2016-11-01 16:14:30 UTC https://padlet.com/mairin_j_barrett/monopoly/wish/134534962 mairin_j_barrett https://padlet.com/mairin_j_barrett/monopoly/wish/134540319 In Woodbury, MN, Comcast is an example of a monopoly because every home has the ability to hook up to their cable since they have installed boxes in all homes. With this being available, choosing Comcast would be significantly cheaper and quicker for homeowners to get cable, making it a Natural Monopoly.]]> 2016-11-01 16:27:54 UTC https://padlet.com/mairin_j_barrett/monopoly/wish/134540319 mairin_j_barrett https://padlet.com/mairin_j_barrett/monopoly/wish/135130966 2016-11-03 15:48:36 UTC https://padlet.com/mairin_j_barrett/monopoly/wish/135130966 mairin_j_barrett https://padlet.com/mairin_j_barrett/monopoly/wish/135131812

Due to the fact that monopolies make lots of profits, it can be used for research and development and to maintain their status as a monopoly.

Government gets taxes from monopoly companies; revenue for the government

Have the money to afford new technology, making them more efficient and more competitive 

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Price Makers 

• They choose the price

Consumer exploitation

No competition means that the products could be low quality or out of date

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