1034:: In a complete monopolistic market, the demand curve for the product is the market demand curve. There is only one firm within the industry. The monopolist is the sole seller, and its demand is the demand of the entire market. A monopolist is the price setter, but it is also limited by the law of market demand. If he/she sets a high price, the sales volume will inevitably decline, if expand the sales volume, the price must be lowered, which means that the demand and price in the monopoly market move in opposite directions. Therefore, the demand curve faced by a monopoly is a downward-sloping curve or a negative slope. Since monopolists control the supply of the entire industry, they also control the price of the entire industry and become price setters. A monopolistic firm can have two business decisions: sell less output at a higher price or sell more output at a lower price. There are no close substitutes for the products of a monopolistic firm. Otherwise, other firms can produce substitutes to replace the monopoly firm's products, and a monopolistic firm cannot become the only supplier in the market. So consumers have no other choice.
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situation occurs, it is always more efficient for one large company to supply the market than multiple smaller companies; in fact, absent government intervention in such markets, will naturally evolve into a monopoly. Often, a natural monopoly is the outcome of an initial rivalry between several competitors. An early market entrant that takes advantage of the cost structure and can expand rapidly can exclude smaller companies from entering and can drive or buy out other companies. A natural monopoly suffers from the same inefficiencies as any other monopoly. Left to its own devices, a profit-seeking natural monopoly will produce where marginal revenue equals marginal costs. Regulation of natural monopolies is problematic. Fragmenting such monopolies is by definition inefficient. The most frequently used methods dealing with natural monopolies are government regulations and public ownership. Government regulation generally consists of regulatory commissions charged with the principal duty of setting prices. Natural monopolies are synonymous with what is called "single-unit enterprise", a term which was used in the 1914 book
1313:: in a perfectly competitive market there is a well defined supply function with a one-to-one relationship between price and quantity supplied. In a monopolistic market no such supply relationship exists. A monopolist cannot trace a short-term supply curve because for a given price there is not a unique quantity supplied. As Pindyck and Rubenfeld note, a change in demand "can lead to changes in prices with no change in output, changes in output with no change in price or both". Monopolies produce where marginal revenue equals marginal costs. For a specific demand curve the supply "curve" would be the price-quantity combination at the point where marginal revenue equals marginal cost. If the demand curve shifted the marginal revenue curve would shift as well and a new equilibrium and supply "point" would be established. The locus of these points would not be a supply curve in any conventional sense.
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which they arose out of. The profound economist goes on to state how there are two types of monopolies. The first type of monopoly is one which tends to always attract to the particular trade where the monopoly was conceived, a greater proportion of the stock of the society than what would go to that trade originally. The second type of monopoly tends to occasionally attract stock towards the particular trade where it was conceived, and sometimes repel it from that trade depending on varying circumstances. Rich countries tended to repel while poorer countries were attracted to this. For example, The Dutch company would dispose of any excess goods not taken to the market in order to preserve their monopoly while the
English sold more goods for better prices. Both of these tendencies were extremely destructive as can be seen in Adam Smith's writings.
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firm then attempts to maximize profits in each segment by equating MR and MC, Generally the company charges a higher price to the group with a more price inelastic demand and a relatively lesser price to the group with a more elastic demand. Examples of third degree price discrimination abound. Airlines charge higher prices to business travelers than to vacation travelers. The reasoning is that the demand curve for a vacation traveler is relatively elastic while the demand curve for a business traveler is relatively inelastic. Any determinant of price elasticity of demand can be used to segment markets. For example, seniors have a more elastic demand for movies than do young adults because they generally have more free time. Thus theaters will offer discount tickets to seniors.
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supply at the market or aggregate level. Individual companies simply take the price determined by the market and produce that quantity of output that maximizes the company's profits. If a PC company attempted to increase prices above the market level all its customers would abandon the company and purchase at the market price from other companies. A monopoly has considerable although not unlimited market power. A monopoly has the power to set prices or quantities although not both. A monopoly is a price maker. The monopoly is the market and prices are set by the monopolist based on their circumstances and not the interaction of demand and supply. The two primary factors determining monopoly market power are the company's demand curve and its cost structure.
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first unit for $ 17 the second unit for $ 14 and so on which is listed in the table below. Total revenue would be $ 55, his total cost would be $ 25 and his profit would be $ 30. Several things are worth noting. The monopolist acquires all the consumer surplus and eliminates practically all the deadweight loss because he is willing to sell to anyone who is willing to pay at least the marginal cost. Thus the price discrimination promotes efficiency. Secondly, by the pricing scheme price = average revenue and equals marginal revenue. That is the monopolist behaving like a perfectly competitive company. Thirdly, the discriminating monopolist produces a larger quantity than the monopolist operating by a uniform pricing scheme.
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3063:. The monopoly was generated by formal meetings of the local management of coal companies agreeing to fix a minimum price for sale at dock. This collusion was known as "The Vend". The Vend ended and was reformed repeatedly during the late 19th century, ending by recession in the business cycle. "The Vend" was able to maintain its monopoly due to trade union assistance, and material advantages (primarily coal geography). During the early 20th century, as a result of comparable monopolistic practices in the Australian coastal shipping business, the Vend developed as an informal and illegal collusion between the steamship owners and the coal industry, eventually resulting in the High Court case
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that total revenue is proportional to output. Thus the total revenue curve for a competitive company is a ray with a slope equal to the market price. A competitive company can sell all the output it desires at the market price. For a monopoly to increase sales it must reduce price. Thus the total revenue curve for a monopoly is a parabola that begins at the origin and reaches a maximum value then continuously decreases until total revenue is again zero. Total revenue has its maximum value when the slope of the total revenue function is zero. The slope of the total revenue function is marginal revenue. So the revenue maximizing quantity and price occur when
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can restrain a high-market-share company’s price increases. Competition law does not make merely having a monopoly illegal but rather abusing the power a monopoly may confer, for instance, through exclusionary practices (i.e., pricing high just because it is the only one around). It should also be noted that it is illegal to try to obtain a monopoly through practices like buying out the competition or similar methods. If a monopoly occurs naturally, such as a competitor going out of business or a lack of competition, it is not illegal until the monopoly holder abuses their power.
1050:: Decreasing unit costs for larger volumes of production. Decreasing costs coupled with large initial costs, If for example, the industry is large enough to support one company of minimum efficient scale then other companies entering the industry will operate at a size that is less than MES, and so cannot produce at an average cost that is competitive with the dominant company. And if the long-term average cost of the dominant company is constantly decreasing, then that company will continue to have the least cost method to provide a good or service.
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willingness to pay is rarely available. Sellers tend to rely on secondary information such as where a person lives (postal codes); for example, catalog retailers can use mail high-priced catalogs to high-income postal codes. First degree price discrimination most frequently occurs in regard to professional services or in transactions involving direct buyer-seller negotiations. For example, an accountant who has prepared a consumer's tax return has information that can be used to charge customers based on an estimate of their ability to pay.
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cost. Average-cost pricing is not perfect. Regulators must estimate average costs. Companies have a reduced incentive to lower costs. Regulation of this type has not been limited to natural monopolies. Average-cost pricing does also have some disadvantages. By setting price equal to the intersection of the demand curve and the average total cost curve, the firm's output is allocatively inefficient as the price is less than the marginal cost (which is the output quantity for a perfectly competitive and allocatively efficient market).
1092:. There is a direct relationship between the proportion of people using a product and the demand for that product. In other words, the more people who are using a product, the greater the probability that another individual will start to use the product. This reflects fads, and fashion trends, social networks etc. It also can play a crucial role in the development or acquisition of market power. The most famous current example is the market dominance of the Microsoft Office suite and operating system in personal computers.
2758:, it was argued in this case that bananas and other fresh fruit were in the same product market and later on dominance was found because the special features of the banana made it could only be interchangeable with other fresh fruits in a limited extent and other and is only exposed to their competition in a way that is hardly perceptible. The demand substitutability of the goods and services will help in defining the product market and it can be access by the 'hypothetical monopolist' test or the 'SSNIP' test.
822:, oligopoly and monopoly. A monopoly is a structure in which a single supplier produces and sells a given product or service. If there is a single seller in a certain market and there are no close substitutes for the product, then the market structure is that of a "pure monopoly". Sometimes, there are many sellers in an industry or there exist many close substitutes for the goods being produced, but nevertheless, companies retain some market power. This is termed "monopolistic competition", whereas in an
2644:, who were able to compete effectively in the long-distance phone market. These breakups are due to the presence of deadweight loss and inefficiency in a monopolistic market, causing the Government to intervene on behalf of consumers and society in order to incite competition. While the sentiment among regulators and judges has generally been against breakups as remedies for antitrust enforcement, recent scholarship has found that this hostility to breakups by administrators is largely unwarranted.
2476:, Friedrich von Wieser demonstrated his view of the postal service as a natural monopoly: "In the face of single-unit administration, the principle of competition becomes utterly abortive. The parallel network of another postal organization, beside the one already functioning, would be economically absurd; enormous amounts of money for plant and management would have to be expended for no purpose whatever." Overall, most monopolies are man-made monopolies, or unnatural monopolies, not natural ones.
1197:: A PC company maximizes profits by producing such that price equals marginal costs. A monopoly maximises profits by producing where marginal revenue equals marginal costs. The rules are not equivalent. The demand curve for a PC company is perfectly elastic – flat. The demand curve is identical to the average revenue curve and the price line. Since the average revenue curve is constant the marginal revenue curve is also constant and equals the demand curve, Average revenue is the same as price (
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purchase at the
Ethiopian price. Similarly, a wealthy student in Ethiopia may be able to or willing to buy at the U.S. price, though naturally would hide such a fact from the monopolist so as to pay the reduced third world price. These are deadweight losses and decrease a monopolist's profits. Deadweight loss is considered detrimental to society and market participation. As such, monopolists have substantial economic interest in improving their market information and
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1165:: There is no product differentiation in a perfectly competitive market. Every product is perfectly homogeneous and a perfect substitute for any other. With a monopoly, there is great to absolute product differentiation in the sense that there is no available substitute for a monopolized good. The monopolist is the sole supplier of the good in question. A customer either buys from the monopolizing entity on its terms or does without.
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1177:: Barriers to entry are factors and circumstances that prevent entry into market by would-be competitors and limit new companies from operating and expanding within the market. PC markets have free entry and exit. There are no barriers to entry, or exit competition. Monopolies have relatively high barriers to entry. The barriers must be strong enough to prevent or discourage any potential competitor from entering the market
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3 due to it being an antitrust case. The USFL announced it would forego the 1986 altogether to appeal the decision; however, the league would fold within a week of the trial ending. The US Supreme Court would, four years later, allow the original ruling to stand and order the NFL to pay damages and to include interest, bringing the total to $ 3.76. The NFL did previously survive an antitrust lawsuit in the 1960s.
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have P1 (1+1/PED) = P2 (1+1/PED) or P1/P2 = (1+1/PED2)/(1+1/PED1). Using this equation the manager can obtain elasticity information and set prices for each segment. Note that the manager may be able to obtain industry elasticities, which are far more inelastic than the elasticity for an individual firm. As a rule of thumb the company's elasticity coefficient is 5 to 6 times that of the industry.
1183:: The price elasticity of demand is the percentage change of demand caused by a one percent change of relative price. A successful monopoly would have a relatively inelastic demand curve. A low coefficient of elasticity is indicative of effective barriers to entry. A PC company has a perfectly elastic demand curve. The coefficient of elasticity for a perfectly competitive demand curve is infinite.
1189:: Excess or positive profits are profit more than the normal expected return on investment. A PC company can make excess profits in the short term but excess profits attract competitors, which can enter the market freely and decrease prices, eventually reducing excess profits to zero. A monopoly can preserve excess profits because barriers to entry prevent competitors from entering the market.
2804:, it only possessed a market share of 40% to 45% and still to be found dominant with other factors. The lowest yet market share of a company considered "dominant" in the EU was 39.7%. If a company has a dominant position, then there is a special responsibility not to allow its conduct to impair competition on the common market; however, these will all falls away if it is not dominant.
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certain quantity of a good at a given price. Companies know that consumer's willingness to buy decreases as more units are purchased. The task for the seller is to identify these price points and to reduce the price once one is reached in the hope that a reduced price will trigger additional purchases from the consumer. For example, sell in unit blocks rather than individual units.
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photographic identification and a boarding pass before boarding an airplane. Most travelers assume that this practice is strictly a matter of security. However, a primary purpose in requesting photographic identification is to confirm that the ticket purchaser is the person about to board the airplane and not someone who has repurchased the ticket from a discount buyer.
3164:'s National Steel Company. At one time, U.S. Steel was the largest steel producer and largest corporation in the world. In its first full year of operation, U.S. Steel made 67 percent of all the steel produced in the United States. However, U.S. Steel's share of the expanding market slipped to 50 percent by 1911, and antitrust prosecution that year failed.
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information with marketers. The two main methods for determining willingness to buy are observation of personal characteristics and consumer actions. As noted information about where a person lives (postal codes), how the person dresses, what kind of car he or she drives, occupation, and income and spending patterns can be helpful in classifying.
1066:: A monopoly may be better able to acquire, integrate, and use the best possible technology in producing its goods while entrants either do not have the expertise or are unable to meet the high fixed costs (see above) needed for the most efficient technology. Thus one large company can often produce goods cheaper than several small companies.
3493:. The USFL initially operated as a spring league, beginning their season approximately one month after the NFL season had concluded and would finish the season approximately one month prior to the start of NFL preseason games. With an increasing popularity and ability to sign big names, such as the 1982-84 Heisman Trophy winners
1098:: Legal rights can provide the opportunity to monopolize the market in a good. Intellectual property rights, including patents and copyrights, give a monopolist exclusive control of the production and selling of certain goods. Property rights may give a company exclusive control of the materials necessary to produce a good.
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market. Firstly, it convinced independent producers to join its single channel monopoly, it flooded the market with diamonds similar to those of producers who refused to join the cartel, and lastly, it purchased and stockpiled diamonds produced by other manufacturers in order to control prices through limiting supply.
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various privileges, including the monopoly to trade
Persian filoselle (raw silk). Armenians exported it all over the world, including Asia, Europe, and America. By the 1750s, Armenia already controlled 75% of the total silk trade in the area. This resulted in a boom in Armenian commerce, which lasted
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It is often argued that monopolies tend to become less efficient and less innovative over time, becoming "complacent", because they do not have to be efficient or innovative to compete in the marketplace. Sometimes this very loss of psychological efficiency can increase a potential competitor's value
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referring to potential gains that went neither to the monopolist nor to consumers. Deadweight loss is the cost to society because it is inefficient. Given the presence of this deadweight loss, the combined surplus (or wealth) for the monopolist and consumers is necessarily less than the total surplus
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Assume that by a uniform pricing system the monopolist would sell five units at a price of $ 10 per unit. Assume that his marginal cost is $ 5 per unit. Total revenue would be $ 50, total costs would be $ 25 and profits would be $ 25. If the monopolist practiced price discrimination he would sell the
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There are three conditions that must be present for a company to engage in successful price discrimination. First, the company must have market power. Second, the company must be able to sort customers according to their willingness to pay for the good. Third, the firm must be able to prevent resell.
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Market power is a company's ability to increase prices without losing all its customers. Any company that has market power can engage in price discrimination. Perfect competition is the only market form in which price discrimination would be impossible (a perfectly competitive company has a perfectly
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A monopolist can extract only one premium, and getting into complementary markets does not pay. That is, the total profits a monopolist could earn if it sought to leverage its monopoly in one market by monopolizing a complementary market are equal to the extra profits it could earn anyway by charging
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As
Pindyck and Rubinfeld note, managers may find it easier to conceptualize the problem of what price to charge in each segment in terms of relative prices and price elasticities of demand. Marginal revenue can be written in terms of elasticities of demand as MR = P(1+1/PED). Equating MR1 and MR2 we
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against broadcasting any USFL games. The trial lasted 42 days and the jury found the NFL has indeed acted monopolistically and violated antitrust laws but as the NFL was not directly responsible for the financial difficulties of the league, the USFL was awarded $ 1 in damages, which was tripled to $
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settled charges of price-fixing in the diamond trade in the 2000s. De Beers is well known for its monopoloid practices throughout the 20th century, whereby it used its dominant position to manipulate the international diamond market. The company used several methods to exercise this control over the
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Despite wide agreement that the above constitute abusive practices, there is some debate about whether there needs to be a causal connection between the dominant position of a company and its actual abusive conduct. Furthermore, there has been some consideration of what happens when a company merely
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When considering whether an undertaking is dominant, it involves a combination of factors. Each of them cannot be taken separately as if they are, they will not be as determinative as they are when they are combined. Also, in cases where an undertaking has previously been found dominant, it is still
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First, it is necessary to determine whether a company is dominant, or whether it behaves “to an appreciable extent independently of its competitors, customers, and ultimately its consumers.” Establishing dominance is a two-stage test. The first thing to consider is market definition, which is one of
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Successful price discrimination requires that companies separate consumers according to their willingness to buy. Determining a customer's willingness to buy a good is difficult. Asking consumers directly is fruitless: consumers do not know, and to the extent they do they are reluctant to share that
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the company charges the maximum price each customer is willing to pay. The maximum price a consumer is willing to pay for a unit of the good is the reservation price. Thus for each unit the seller tries to set the price equal to the consumer's reservation price. Direct information about a consumer's
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of production. Nonetheless, a pure monopoly can – unlike a competitive company – alter the market price for its own convenience: a decrease of production results in a higher price. In the economics' jargon, it is said that pure monopolies have "a downward-sloping demand". An important consequence of
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A pure monopoly has the same economic rationality of perfectly competitive companies, i.e. to optimise a profit function given some constraints. By the assumptions of increasing marginal costs, exogenous inputs' prices, and control concentrated on a single agent or entrepreneur, the optimal decision
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The fact that a monopoly has a downward-sloping demand curve means that the relationship between total revenue and output for a monopoly is much different from that of competitive companies. Total revenue equals price times quantity. A competitive company has a perfectly elastic demand curve meaning
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which aims at enhancing the consumer's welfare and also the efficiency of allocation of resources by protecting competition on the downstream market. The existence of a very high market share does not always mean consumers are paying excessive prices, since the threat of new entrants to the market
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In an unregulated market, monopolies can potentially be ended by new competition, breakaway businesses, or consumers seeking alternatives. In a regulated market, a government will often either regulate the monopoly, convert it into a publicly owned monopoly environment, or forcibly fragment it (see
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To reduce prices and increase output, regulators often use average cost pricing. By average cost pricing, the price and quantity are determined by the intersection of the average cost curve and the demand curve. This pricing scheme eliminates any positive economic profits since price equals average
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The price of monopoly is upon every occasion the highest which can be got. The natural price, or the price of free competition, on the contrary, is the lowest which can be taken, not upon every occasion indeed, but for any considerable time together. The one is upon every occasion the highest which
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There is important information for one to remember when considering the monopoly model diagram (and its associated conclusions) displayed here. The result that monopoly prices are higher, and production output lesser, than a competitive company follow from a requirement that the monopoly not charge
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Market power is the ability to increase the product's price above marginal cost without losing all customers. Perfectly competitive (PC) companies have zero market power when it comes to setting prices. All companies of a PC market are price takers. The price is set by the interaction of demand and
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In addition to barriers to entry and competition, barriers to exit may be a source of market power. Barriers to exit are market conditions that make it difficult or expensive for a company to end its involvement with a market. High liquidation costs are a primary barrier to exiting. Market exit and
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If the monopolist is able to segment the market perfectly, then the average revenue curve effectively becomes the marginal revenue curve for the company and the company maximizes profits by equating price and marginal costs. That is the company is behaving like a perfectly competitive company. The
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To provide a more specific example, economic and philosophical scholar Adam Smith cites that trade to the East India
Company has, for the most part, been subjected to an exclusive company such as that of the English or Dutch. Monopolies such as these are generally established against the nation in
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A monopolist should shut down when price is less than average variable cost for every output level – in other words where the demand curve is entirely below the average variable cost curve. Under these circumstances at the profit maximum level of output (MR = MC) average revenue would be less than
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written by
Friedrich von Wieser. As mentioned, government regulations are frequently used with natural monopolies to help control prices. An example that can illustrate this can be found when looking at the United States Postal Service, which has a monopoly over types of mail. According to Wieser,
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or multi-market price discrimination the seller divides the consumers into different groups according to their willingness to pay as measured by their price elasticity of demand. Each group of consumers effectively becomes a separate market with its own demand curve and marginal revenue curve. The
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or quantity discrimination customers are charged different prices based on how much they buy. There is a single price schedule for all consumers but the prices vary depending on the quantity of the good bought. The theory of second degree price discrimination is a consumer is willing to buy only a
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The inability to prevent resale is the largest obstacle to successful price discrimination. Companies have, however, developed numerous methods to prevent resale. For example, universities require that students show identification before entering sporting events. Governments may make it illegal to
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of the market. A domestic example would be the cost of airplane flights in relation to their takeoff time; the closer they are to flight, the higher the plane tickets will cost, discriminating against late planners and often business flyers. While such perfect price discrimination is a theoretical
1122:: In some industries such as electronics, the pace of product innovation is so rapid that the existing firms will be working on the next generation of products whilst launching the current ranges. New entrants are destined to fail unless they have original ideas or can exploit a new market segment.
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A company must have some degree of market power to practice price discrimination. Without market power a company cannot charge more than the market price. Any market structure characterized by a downward sloping demand curve has market power – monopoly, monopolistic competition and oligopoly. The
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but would buy at a lower price. A price discrimination strategy is to charge less price sensitive buyers a higher price and the more price sensitive buyers a lower price. Thus additional revenue is generated from two sources. The basic problem is to identify customers by their willingness to pay.
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Partial price discrimination can cause some customers who are inappropriately pooled with high price customers to be excluded from the market. For example, a poor student in the U.S. might be excluded from purchasing an economics textbook at the U.S. price, which the student may have been able to
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In general, the main results from this theory compare the price-fixing methods across market structures, analyze the effect of a certain structure on welfare, and vary technological or demand assumptions in order to assess the consequences for an abstract model of society. Most economic textbooks
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that forced De Beers to "avoid the risk of bad publicity" by limiting sales to its own mined products. De Beers' market share by value fell from as high as 90% in the 1980s to less than 40% in 2012, having resulted in a more fragmented diamond market with more transparency and greater liquidity.
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It concerns with the competition that would come from other undertakings which are not yet operating in the market but will enter it in the future. So, market shares may not be useful in accessing the competitive pressure that is exerted on an undertaking in this area. The potential entry by new
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Market power is the ability to affect the terms and conditions of exchange so that the price of a product is set by a single company (price is not imposed by the market as in perfect competition). Although a monopoly's market power is great it is still limited by the demand side of the market. A
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that baseball was not the kind of commerce intended to be affected by federal antitrust, thus making baseball exempt from antitrust laws. The
Supreme Court maintained their original ruling in both 1953 and 1972 when the issue was brought up in court. As a legal monopoly, the MLB has not had any
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over the relevant range of output and relatively high fixed costs. A natural monopoly occurs where the average cost of production "declines throughout the relevant range of product demand". The relevant range of product demand is where the average cost curve is below the demand curve. When this
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A company wishing to practice price discrimination must be able to prevent middlemen or brokers from acquiring the consumer surplus for themselves. The company accomplishes this by preventing or limiting resale. Many methods are used to prevent resale. For instance, persons are required to show
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A company with a monopoly does not experience price pressure from competitors, although it may experience pricing pressure from potential competition. If a company increases prices too much, then others may enter the market if they are able to provide the same good, or a substitute, at a lesser
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The most significant distinction between a PC company and a monopoly is that the monopoly has a downward-sloping demand curve rather than the "perceived" perfectly elastic curve of the PC company. Practically all the variations mentioned above relate to this fact. If there is a downward-sloping
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While monopoly and perfect competition represent the extremes of market structures there is some similarity. The cost functions are the same. Both monopolies and perfectly competitive (PC) companies minimize cost and maximize profit. The shutdown decisions are the same. Both are assumed to have
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restrict monopolies due to government concerns over potential adverse effects. Holding a dominant position or a monopoly in a market is often not illegal in itself; however, certain categories of behavior can be considered abusive and therefore incur legal sanctions when business is dominant. A
2784:(HHI) is sometimes used to assess how competitive an industry is. It sums up the squares of the individual market shares of all of the competitors within the market. The lower the total, the less concentrated the market and the higher the total, the more concentrated the market. In the US, the
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As with collusive conduct, market shares are determined with reference to the particular market in which the company and product in question is sold. It does not in itself determine whether an undertaking is dominant but work as an indicator of the states of the existing competition within the
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transport where it might not be economic to sell them to distant markets in relation to their value, therefore the cost of transporting is a crucial factor here. Other factors might be legal controls which restricts an undertaking in a Member States from exporting goods or services to another.
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According to the
Guidance, there are three more issues that must be examined. They are actual competitors that relates to the market position of the dominant undertaking and its competitors, potential competitors that concerns the expansion and entry and lastly the countervailing buyer power.
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It is necessary to define it because some goods can only be supplied within a narrow area due to technical, practical or legal reasons and this may help to indicate which undertakings impose a competitive constraint on the other undertakings in question. Since some goods are too expensive to
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There are three forms of price discrimination. First degree price discrimination charges each consumer the maximum price the consumer is willing to pay. Second degree price discrimination involves quantity discounts. Third degree price discrimination involves grouping consumers according to
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In 1848, J.S. Mill was the first individual to describe monopolies with the adjective "natural". He used it interchangeably with "practical". At the time, Mill gave the following examples of natural or practical monopolies: gas supply, water supply, roads, canals, and railways. In his
774:: Competition within the market will determine the firm's future profits, and future profits will determine the entry and exit barriers to the market. Estimating entry, exit and profits are decided by three factors: the intensity of competition in short-term prices, the magnitude of
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Note that the discounts apply only to tickets not to concessions. The reason there is not any popcorn discount is that there is not any effective way to prevent resell. A profit maximizing theater owner maximizes concession sales by selling where marginal revenue equals marginal
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The purpose of price discrimination is to transfer consumer surplus to the producer. Consumer surplus is the difference between the value of a good to a consumer and the price the consumer must pay in the market to purchase it. Price discrimination is not limited to monopolies.
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is the price elasticity of demand the firm faces. The markup rules indicate that the ratio between profit margin and the price is inversely proportional to the price elasticity of demand. The implication of the rule is that the more elastic the demand for the product the less
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to make the process of charging some people higher prices more socially acceptable. Perfect price discrimination would allow the monopolist to charge each customer the exact maximum amount they would be willing to pay. This would allow the monopolist to extract all the
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By
European Union law, very large market shares raise a presumption that a company is dominant, which may be rebuttable. A market share of 100% may be very rare but it is still possible to be found and in fact it has been identified in some cases, for instance the
1128:: It may be possible for existing firms to ride the existence of abnormal profit by what is called entry limit pricing. This involves deliberately setting a low price and temporarily abandoning profit maximization in order to force new entrants out of the market.
3005:) was historically a natural monopoly. Until recently, a combination of strong sunshine and low humidity or an extension of peat marshes was necessary for producing salt from the sea, the most plentiful source. Changing sea levels periodically caused salt "
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Market share may be a valuable source of information regarding the market structure and the market position when it comes to accessing it. The dynamics of the market and the extent to which the goods and services differentiated are relevant in this area.
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Smith, Adam (3 June 2014), ""Of the
Advantages Which Europe Has Derived from the Discovery of America, and from That of a passage to the East Indies by the Cape of Good Hope" from An Inquiry into the Nature and Causes of the Wealth of Nations (1776).",
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Competitive constraints may not always come from actual or potential competitors. Sometimes, it may also come from powerful customers who have sufficient bargaining strength which come from its size or its commercial significance for a dominant firm.
1024:
Monopolies derive their market power from barriers to entry – circumstances that prevent or greatly impede a potential competitor's ability to compete in a market. There are three major types of barriers to entry: economic, legal, and deliberate.
1460:-intercept as the inverse demand curve. Second, the slope of the marginal revenue curve is twice that of the inverse demand curve. What is not quite so evident is that the marginal revenue curve is below the inverse demand curve at all points (
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Market definition may be difficult to measure but is important because if it is defined too narrowly, the undertaking may be more likely to be found dominant and if it is defined too broadly, the less likely that it will be found dominant.
2868:
It arises when a monopolist has such significant market power that it can restrict its output while increasing the price above the competitive level without losing customers. This type is less concerned by the Commission than other types.
955:: monopolists will choose the price or output to maximise profits at where MC=MR.This output will be somewhere over the price range, where demand is price elastic. If the total revenue is higher than total costs, the monopolists will make
2118:, it is advantageous for a company to increase its prices: it receives more money for fewer goods. With a price increase, price elasticity tends to increase, and in the optimum case above it will be greater than one for most customers.
2502:, in which a government grants exclusive privilege to a private individual or company to be the sole provider of a commodity. Monopoly may be granted explicitly, as when potential competitors are excluded from the market by a specific
2464:
the idea of a competitive market within the postal industry would lead to extreme prices and unnecessary spending, and this highlighted why government regulation in the form of price control is necessary as it helped efficient market.
3087:
for the next 150 years. At present, as it happens, Armenia's own economy is itself highly monopolized; in fact, with 19% of its economy monopolized, Armenia was the most monopolized country in Eastern Europe and Central Asia in 2009.
2107:(social welfare) would accrue to the monopolist and none to the consumer. In essence, every consumer would be indifferent between going completely without the product or service and being able to purchase it from the monopolist.
3739:
monopolist will continue to sell extra units as long as the extra revenue exceeds the marginal cost of production. The problem that the company has is that the company must charge a different price for each successive unit sold.
837:
is a specific concept including geographical and time-related characteristics. Most studies of market structure relax a little their definition of a good, allowing for more flexibility in the identification of substitute goods.
581:
by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a business entity that has significant market power, that is, the power to charge
1110:: A company wanting to monopolize a market may engage in various types of deliberate action to exclude competitors or eliminate competition. Such actions include collusion, lobbying governmental authorities, and force (see
2879:
This is most concerned about by the Commissions because it is capable of causing long-term consumer damage and is more likely to prevent the development of competition. An example of it is exclusive dealing agreements.
2982:(2nd century CE), regarding the purchasing of agricultural goods from a dealer who has a monopoly on the produce (chapter 5; 4). The meaning and understanding of the English word 'monopoly' has changed over the years.
2522:. These monopolies can also be the result of "rent-seeking" behavior, where firms will try to get the prize of having a monopoly, and the increase of profits in acquiring one from a competitive market in their sector.
1255:
1530:
it must be the case that at the profit-maximizing quantity MR and MC are less than price, which further implies that a monopoly produces less quantity at a higher price than if the market were perfectly competitive.
977:: In a monopoly, there is one seller of the good, who produces all the output. Therefore, the whole market is being served by a single company, and for practical purposes, the company is the same as the industry.
2032:
allows a monopolist to increase its profit by charging higher prices for identical goods to those who are willing or able to pay more. For example, most economic textbooks cost more in the United States than in
3179:
In 2000, the De Beers business model changed due to factors such as the decision by producers in Russia, Canada and Australia to distribute diamonds outside the De Beers channel, as well as rising awareness of
3192:
thereby increasing Anglo American's ownership of the company to 85%. The transaction was worth £3.2 billion ($ 5.1 billion) in cash and ended the Oppenheimer dynasty's 80-year ownership of De Beers.
1318:
demand curve then by necessity there is a distinct marginal revenue curve. The implications of this fact are best made manifest with a linear demand curve. Assume that the inverse demand curve is of the form
593:(a form of oligopoly), in which several providers act together to coordinate services, prices or sale of goods. Monopolies, monopsonies and oligopolies are all situations in which one or a few entities have
2636:, and later by a series of agreements between AT&T and the Federal Government. In 1984, decades after having been granted monopoly power by force of law, AT&T was broken up into various components,
1133:
shutdown are sometimes separate events. The decision of whether to shut down or operate is not affected by exit barriers. A company will shut down if the price falls below minimum average variable costs.
2384:
can be squeezed out of the buyers, or which it is supposed they will consent to give; the other is the lowest which the sellers can commonly afford to take, and at the same time continue their business.
2754:
As the definition of the market is of a matter of interchangeability, if the goods or services are regarded as interchangeable then they are within the same product market. For example, in the case of
1786:
more for the monopoly product itself. However, the one monopoly profit theorem is not true if customers in the monopoly good are stranded or poorly informed, or if the tied good has high fixed costs.
1307:: If a monopolist obtains control of a formerly perfectly competitive industry, the monopolist would increase prices, reduce production, incur deadweight loss, and realise positive economic profits.
806:
In economics, the idea of monopolies is important in the study of management structures, which directly concerns normative aspects of economic competition, and provides the basis for topics such as
1872:
3114:" critics accused Standard Oil of using aggressive pricing to destroy competitors and form a monopoly that threatened consumers. Its controversial history as one of the world's first and largest
1299:
3823:
A pure monopoly is an industry in which there is only one supplier of a product for which there are no close substitutes and in which is very difficult or impossible for another firm to coexist
788:: If the number of firms in the market increases, the value of firms remaining and entering the market will decrease, leading to a high probability of exit and a reduced likelihood of entry.
2400:
According to the standard model, in which a monopolist sets a single price for all consumers, the monopolist will sell a lesser quantity of goods at a higher price than would companies by
589:
A monopoly may also have monopsony control of a sector of a market. A monopsony is a market situation in which there is only one buyer. Likewise, a monopoly should be distinguished from a
4339:
Perfectly competitive firms are price takers. Price is exogenous and it is possible to associate each price with unique profit maximizing quantity. Besanko, David, and Ronald Braeutigam,
2433:
monopoly, while worth a great deal during the late 18th century United Kingdom, was worth much less during the late 19th century because of the introduction of railways as a substitute.
2890:
It arises when a dominant undertaking carrying out excess pricing which would not only have an exploitative effect but also prevent parallel imports and limits intra-brand competition.
830:
follow the practice of carefully explaining the "perfect competition" model, mainly because this helps to understand departures from it (the so-called "imperfect competition" models).
5842:
1643:
1398:
1157:: In a perfectly competitive market, price equals marginal cost. In a monopolistic market, however, price is set above marginal cost. The price equal marginal revenue in this case.
586:. Although monopolies may be big businesses, size is not a characteristic of a monopoly. A small business may still have the power to raise prices in a small industry (or market).
2121:
A company maximizes profit by selling where marginal revenue equals marginal cost. A company that does not engage in price discrimination will charge the profit maximizing price,
1438:
5687:
2215:
willingness to pay as measured by their price elasticities of demand and charging each group a different price. Third degree price discrimination is the most prevalent type.
1561:
2800:
case, the undertaking is presumed to be dominant if it has a market share of 50%. There are also findings of dominance that are below a market share of 50%, for instance,
1799:
such behaviour is that typically a monopoly selects a higher price and lesser quantity of output than a price-taking company; again, less is available at a higher price.
1528:
1506:
228:
3513:
persuaded other owners to move the season so it directly competed with the NFL's. At the same time an antitrust lawsuit was filed against the NFL as it convinced the
1746:
1710:
1596:
1484:
1773:
1351:
3043:, when strict legal controls specified who was allowed to sell and distribute salt. First instituted in 1286, the Gabelle was not permanently abolished until 1945.
2200:
2173:
2146:
1899:
1672:
5379:
3554:
has been sued by competitors for antitrust and monopolistic practices. They have between 70% and 100% of the commercial GMO seed market in a small number of crops.
2440:, monopolists do not try to sell items for the highest possible price, nor do they try to maximize profit per unit, but rather they try to maximize total profit.
2045:
monopoly to price discriminate between the generally wealthier American economics students and the generally poorer Ethiopian economics students. Similarly, most
1458:
2796:
case. Undertakings possessing market share that is lower than 100% but over 90% had also been found dominant, for example, Microsoft v Commission case. In the
2620:, often being naturally efficient with only one operator and therefore less susceptible to efficient breakup, are often strongly regulated or publicly owned.
1919:
monopoly has a negatively sloped demand curve, not a perfectly inelastic curve. Consequently, any price increase will result in the loss of some customers.
2839:
firms and expansions by an undertaking must be taken into account, therefore the barriers to entry and barriers to expansion is an important factor here.
833:
The boundaries of what constitutes a market and what does not are relevant distinctions to make in economic analysis. In a general equilibrium context, a
2808:
necessary to redefine the market and make a whole new analysis of the conditions of competition based on the available evidence at the appropriate time.
2404:. Because the monopolist ultimately forgoes transactions with consumers who value the product or service less than its price, monopoly pricing creates a
2049:
medications cost more in the U.S. than in other countries with a (presumed) poorer customer base. Typically, a high general price is listed, and various
3125:
ruled that Standard was an illegal monopoly. The Standard Oil trust was dissolved into 33 smaller companies; two of its surviving "child" companies are
3009:" and communities were forced to depend upon those who controlled the scarce inland mines and salt springs, which were often in hostile areas (e.g. the
5165:
5744:
7908:
5144:
4877:
3602:
2732:
2647:
In fact, some scholars have argued that breakups, even if incorrectly targeted, could still encourage collaboration, innovation, and efficiency.
1200:
965:: Decides the price of the good or product to be sold, but does so by determining the quantity in order to demand the price desired by the firm.
6062:
5643:
5098:
2673:
5662:
1056:: Production processes that require large investments of capital, perhaps in the form of large research and development costs or substantial
5852:
5330:
1807:
A monopoly chooses that price that maximizes the difference between total revenue and total cost. The basic markup rule (as measured by the
5590:
3702:
3241:
because the infrastructure required to produce and deliver a product such as electricity or water is very expensive to build and maintain.
1082:: A prime source of monopoly power is the control of resources (such as raw materials) that are critical to the production of a final good.
5825:
2377:(what the monopolist gains from higher prices), the monopolist has a net gain, but society has a net loss; economic efficiency decreases.
1782:
price. The idea that monopolies in markets with easy entry need not be regulated against is known as the "revolution in monopoly theory".
5874:
633:
are sometimes used as examples of government-granted monopolies. The government may also reserve the venture for itself, thus forming a
6852:
6493:
3408:
3277:
is a former state monopoly, still partially state owned. Deutsche Telekom currently monopolizes high-speed VDSL broadband network. The
2091:, such that all customers are charged the same amount). If the monopoly were permitted to charge individualised prices (this is termed
5645:
How Robber Barons hijacked the "Victorian Internet": Ars revisits those wild and crazy days when Jay Gould ruled the telegraph and ...
2409:
obtained by consumers by perfect competition. Where efficiency is defined by the total gains from trade, the monopoly setting is less
8456:
3606:
3345:
406:
3373:. In the 1870s, LIRR became the sole railroad in that area through a series of acquisitions and consolidations. In 2013, the LIRR's
7955:
7037:
5684:
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1076:. The absence of substitutes makes the demand for that good relatively inelastic, enabling monopolies to extract positive profits.
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6947:
5918:
2417:
enough to overcome market entry barriers, or provide incentive for research and investment into new alternatives. The theory of
7066:
5782:
3102:
producing, transporting, refining, and marketing company. Established in 1870, it became the largest oil refiner in the world.
597:
and therefore interact with their customers (monopoly or oligopoly), or suppliers (monopsony) in ways that distort the market.
4920:
McConnell, Campbell R. Economics : principles, problems, and policies / Campbell R. McConnell, Stanley L. Brue.– 17th ed.
2425:
there were competition because of the risk of losing their monopoly to new entrants. This is likely to happen when a market's
7054:
6008:
5745:"Towards A New Age of Partnership (TANAP): An Ambitious World Heritage Project (UNESCO Memory of the World – reg.form, 2002)"
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West E.G. (2008) Monopoly. In: Palgrave Macmillan (eds) The New Palgrave Dictionary of Economics. Palgrave Macmillan, London
3588:
794:: Product substitution is the phenomenon where customers can choose one over another. This is the main way to distinguish a
4585:
1814:
617:, by contrast, is sanctioned by the state, often to provide an incentive to invest in a risky venture or enrich a domestic
5717:
1260:
7755:
7665:
2788:
state that a post-merger HHI below 1000 is viewed as not concentrated while HHIs above that will provoke further review.
2429:
are low. It might also be because of the availability in the longer term of substitutes in other markets. For example, a
7780:
5407:
6055:
3457:
3161:
3122:
1997:
985:: A monopolist can change the price or quantity of the product. They sell higher quantities at a lower price in a very
916:
730:
118:
5146:
Case 27/76: United Brands Company and United Brands Continentaal BV v Commission of the European Communities (ECR 207)
3188:
In November 2011, the Oppenheimer family announced its intention to sell the entirety of its 40% stake in De Beers to
5971:
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5554:
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2016:
1969:
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was a legal monopoly in China. Formed in 758, the commission controlled salt production and sales in order to raise
2574:
7725:
6175:
3536:. They settled antitrust litigation in the U.S. in 2001. In 2004 Microsoft was fined 493 million euros by the
2148:, to all its customers. In such circumstances there are customers who would be willing to pay a higher price than
6681:
6532:
3514:
3478:
5805:
5021:. Everyday Finance: Economics, Personal Money Management, and Entrepreneurship. Detroit: Gale Cengage Learning.
1976:
1104:: Advertising and brand names with a high degree of consumer loyalty may prove a difficult obstacle to overcome.
895:
709:
97:
7882:
7735:
6621:
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was created as a legal trading monopoly in 1600. The East India Company was formed for pursuing trade with the
3106:
was a founder, chairman and major shareholder. The company was an innovator in the development of the business
2858:
There are three main types of abuses which are exploitative abuse, exclusionary abuse and single market abuse.
2781:
2746:
the crucial factors of the test. This includes the relevant product market and the relevant geographic market.
2570:
1954:
873:
687:
213:
75:
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2510:
can only be fulfilled by a single market player, or through some other legal or procedural mechanism, such as
8610:
7922:
7795:
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2437:
541:
which consists of a few sellers dominating a market. Monopolies are thus characterised by a lack of economic
399:
318:
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would be consumer surplus, and everything below, producer surplus. The monopolist pushes up the price (from
1601:
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6180:
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1356:
3078:
In the 17th century, Shah Abbas established New Julfa (a suburb in the capital of Isfahan) to concentrate
2722:
2238:
The three basic forms of price discrimination are first, second and third degree price discrimination. In
1983:
1778:
So the revenue maximizing quantity for the monopoly is 12.5 units and the revenue-maximizing price is 25.
1150:
perfectly competitive factors markets. There are distinctions; some of the most important are as follows:
902:
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104:
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3110:. The Standard Oil trust streamlined production and logistics, lowered costs, and undercut competitors. "
2485:
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occurring due to limited competition because the industry is resource intensive and requires substantial
610:
1171:: PC markets are populated by a large number of buyers and sellers. A monopoly involves a single seller.
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1111:
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247:
182:
17:
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5977:
Bryce Covert, "The Visible Hand: How monopolies define everyday life in the United States" (review of
5174:
http://www.internationalcompetitionnetwork.org/uploads/library/doc752.pdf> last accessed 4 May 2018
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Because MC is the same in each market segment the profit maximizing condition becomes produce where MR
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3321:
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2054:
1965:
1950:
1088:: The use of a product by a person can affect the value of that product to other people. This is the
884:
869:
698:
683:
86:
71:
35:
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1145:
This 1879 anti-monopoly cartoon depicts powerful railroad barons controlling the entire rail system.
8187:
8056:
7705:
5659:
5092:
DG Competition discussion paper on the application of Article of the Treaty to exclusionary abuses
3486:
3482:
3385:
3377:
system is the busiest commuter railroad in North America, serving nearly 335,000 passengers daily.
3348:
was an aircraft manufacturer holding company that was forced to divest itself of airlines in 1934.
3286:
2555:
1538:
819:
795:
392:
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1943:
1511:
1489:
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807:
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542:
521:, is a market with the "absence of competition", creating a situation where a specific person or
64:
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5380:"A Tale of Two Theories: Monopolies and Craft Guilds in Medieval England and Modern Imagination"
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4127:
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is one of the largest mass media and entertainment conglomerates in the world, and has acquired
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average variable costs and the monopolists would be better off shutting down in the short term.
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different prices for different customers. That is, the monopoly is restricted from engaging in
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A 1902 anti-monopoly cartoon depicts the challenges that monopolies may create for workers.
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They Made America: From the Steam Engine to the Search Engine: Two Centuries of Innovators
8:
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in 2007. The fine was US$ 1.35 billion in 2008 for noncompliance with the 2004 rule.
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2974:). Another early reference to the concept of "monopoly" in a commercial sense appears in
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2418:
2410:
2401:
1193:
1060:, limit the number of companies in an industry: this is an example of economies of scale.
815:
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3772:(February 2002) . "VIII: Monopoly and the Social Responsibility of Business and Labor".
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3778:(paperback) (40th anniversary ed.). The University of Chicago Press. p. 208.
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3365:(LIRR) was founded in 1834, and since the mid-1800s has provided train service between
3213:
or provides a set of services for public consumption. Common examples of utilities are
3189:
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1443:
1440:. From this several things are evident. First, the marginal revenue curve has the same
1041:
530:
354:
276:
30:
This article is about the economic term. For the board game based on this concept, see
7309:
2373:(what the monopolist loses from lower sales) is smaller than the blue area above line
2363:
The remaining consumer surplus is shown in red; the enlarged producer surplus in blue.
1990:
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The law regulating dominance in the European Union is governed by Article 102 of the
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208:
196:
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Rabbi Judah agrees that if a man bought from a monopolist, he must tithe every heap.
4231:
2628:
are often cited as examples of the breakup of a private monopoly by government. The
2099:
customer, would be identical to that of a competitive company, thus eliminating the
814:. There are four basic types of market structures in traditional economic analysis:
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Le rôle du sel dans l'histoire: Travaux préparés sous la direction de Michel Mollat
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enjoyed huge profits from its spice monopoly through most of the 17th century.
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was a telecommunications giant. AT&T was broken up in 1984. In the case of
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But increasing the price means price-sensitive consumers do not buy, causing a
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491:
256:
238:
5620:
5395:
3580:
3055:
that anti-competitive practices developed in the coal industry of Australia's
3013:) requiring well-organised security for transport, storage, and distribution.
8604:
8476:
8376:
8367:
8338:
8324:
8314:
8258:
8022:
8012:
8002:
7825:
7655:
7565:
7514:
7484:
7474:
7404:
7399:
7389:
7249:
7239:
7229:
7204:
7071:
7049:
6967:
6874:
6847:
6832:
6774:
6457:
5289:
4419:
Davies, Glyn; Davies, John (July 1984). "The revolution in monopoly theory".
3955:
3572:
3374:
3370:
3248:
3244:
3222:
3181:
3119:
3111:
2685:
1903:
1791:
1001:
989:
market, and sell lower quantities at a higher price in a less elastic market.
562:
518:
345:
313:
5438:
5044:
3908:
2421:
argues that in some circumstances (private) monopolies are forced to behave
8446:
8278:
8273:
8007:
7805:
7489:
7479:
7469:
7334:
7329:
7269:
7244:
7214:
7209:
7116:
7111:
6957:
6837:
6571:
6507:
6377:
6367:
6362:
6281:
6271:
6215:
6105:
3670:
3568:
3510:
3465:
competition in the American market since the early 1960s, from the defunct
3333:
3270:
3145:
3095:
3025:
2625:
1808:
1013:
997:
993:
594:
359:
272:
223:
3892:
1250:{\displaystyle {\text{AR}}={\frac {\text{TR}}{Q}}=P\cdot {\frac {Q}{Q}}=P}
8471:
8383:
8263:
8115:
8029:
7504:
7499:
7434:
7429:
7279:
7151:
7106:
7096:
6889:
6884:
6822:
6759:
6542:
6517:
6442:
6402:
6372:
6347:
6327:
6306:
6286:
6266:
6256:
6225:
6090:
5978:
5878:
5762:
Baade, R.A (2018). "The Curious Case of Baseball's Antitrust Exemption".
5544:
4571:
3838:
Orbach, Barak; Campbell, Grace (2012). "The Antitrust Curse of Bigness".
3502:
3498:
3412:
3366:
2629:
282:
6027:
3891:
Timothy, Dunne; Shawn D, Klimek; Mark J, Roberts; Daniel Yi, Xu (2013).
8231:
7983:
7887:
7695:
7595:
7444:
7364:
7136:
7027:
6869:
6812:
6789:
6754:
6703:
6693:
6661:
6606:
6432:
6412:
6337:
6301:
6205:
6190:
6115:
6040:
5987:
5919:"Disney's massive monopoly is troubling for the entertainment industry"
4772:
Cambridge International AS and A Level Economics Coursebook with CD-ROM
3963:
3940:"On the Misuse of Accounting Rates of Return to Infer Monopoly Profits"
3560:
has a monopoly on retail sales at overseas U.S. military installations.
3489:
was facing competition USFL following their successful first season in
3424:
3309:
3281:(LIPA) provided electric service to over 1.1 million customers in
3205:(or simply "utility") is an organization or company that maintains the
3141:
3126:
2996:
2515:
2223:
only market structure that has no market power is perfect competition.
1957: in this section. Unsourced material may be challenged and removed.
1057:
1044:, capital requirements, cost advantages, and technological superiority.
876: in this section. Unsourced material may be challenged and removed.
779:
690: in this section. Unsourced material may be challenged and removed.
478:
5429:
Chazelas, Jean (1968). "La suppression de la gabelle du sel en 1945".
3939:
1257:). Thus the price line is also identical to the demand curve. In sum,
8542:
8309:
8226:
8221:
8034:
7585:
7524:
7081:
6724:
6651:
6636:
6557:
6477:
6472:
6397:
6352:
6332:
6311:
6296:
6276:
6261:
6125:
6085:
5540:
3691:
3527:
3234:
3099:
2953:
2613:
2519:
2337:
2042:
823:
775:
630:
626:
534:
526:
468:
458:
261:
191:
165:
5490:
5454:
The Coalminers of New South Wales: a history of the union, 1860–1960
5346:
Segal, M.H. (1948). "Demai: Translated into English with Notes". In
2544:
2506:, or implicitly, such as when the requirements of an administrative
1932:
851:
665:
53:
8334:
8329:
7860:
7439:
7176:
6769:
6734:
6708:
6688:
6641:
6452:
6407:
6291:
6195:
6185:
6120:
5354:. Vol. Zeraim vol. II. London: The Soncino Press. p. 69.
4208:(Third ed.). World Scientific Publishing Company. p. 93.
3551:
3172:
2038:
473:
42:
5036:
4994:(2nd ed.). Basingstoke, Hampshire: Palgrave Macmillan. 2008.
525:
is the only supplier of a particular thing. This contrasts with a
8388:
8287:
8199:
7933:
7897:
7810:
6698:
6666:
6656:
6427:
6387:
6220:
6145:
6130:
6110:
6015:
4551:
Bergemann, Dirk; Brooks, Benjamin; Morris, Stephen (March 2015).
3305:
3083:
3079:
3032:
2511:
2492:
2341:
In a competitive market, everything above the horizontal line at
538:
522:
453:
3799:
Blinder, Alan S; Baumol, William J; Gale, Colton L (June 2001).
584:
overly high prices, which is associated with unfair price raises
8574:
8363:
6646:
6447:
6235:
6210:
6200:
6170:
6155:
6003:
5847:
3625:
3530:
has been the defendant in multiple antitrust suits on strategy
3416:
3400:
3329:
3298:
3010:
3006:
2979:
2046:
971:: Other sellers are unable to enter the market of the monopoly.
622:
590:
267:
3983:
3699:, a policy rule concerning what price a monopolist should set.
2632:, later AT&T, was protected from competition first by the
2041:. In this case, the publisher is using its government-granted
8248:
8130:
8110:
6676:
6165:
6100:
5129:
Europemballage Corpn and Continental Can Co Inc v Commission
3890:
3557:
3440:
2430:
1563:. For example, assume that the monopoly's demand function is
834:
5116:
Europemballage Corpn and Continental Can Co Inc v Commission
3521:
604:, or be established by a government. In many jurisdictions,
8405:
6671:
6095:
5469:"The Activity of Armenian Merchants in International Trade"
3584:
3576:
3428:
3420:
2387:...Monopoly, besides, is a great enemy to good management.
948:
A monopoly has at least one of these five characteristics:
778:
of entry faced by potential entrants, and the magnitude of
600:
Monopolies can be formed by mergers and integrations, form
5070:"In Defense of Breakups: Administering a "Radical" Remedy"
4884:, Penn State Electronic Classics edition, republished 2005
4692:
4690:
4688:
3415:. The Company traded in basic commodities, which included
3324:
in the United States, and the nation's third largest home
6240:
6135:
5456:. Melbourne: Melbourne University Press. pp. 45–134.
4610:
4608:
3984:
Goodwin, N; Nelson, J; Ackerman, F; Weisskopf, T (2009).
3436:
3039:. The much-hated levy had a role in the beginning of the
3021:
2235:
baseball tickets can only be resold legally to the team.
27:
Market structure with a single firm dominating the market
3354:, the Irish Railway authority, is a current monopoly as
4685:
3893:"Entry, exit, and the determinants of market structure"
2454:
A natural monopoly is an organization that experiences
2095:), the quantity produced, and the price charged to the
4605:
1136:
1072:: A monopoly sells a good for which there is no close
4986:
4984:
4550:
4182:
4180:
3833:
3831:
3388:
was created as a legal trading monopoly in 1602. The
3035:" was a notoriously high tax levied upon salt in the
2181:
2154:
2127:
1880:
1867:{\displaystyle {\frac {P-MC}{P}}={\frac {-1}{E_{d}}}}
1817:
1755:
1719:
1683:
1651:
1604:
1569:
1541:
1514:
1492:
1466:
1446:
1406:
1359:
1324:
1263:
1203:
3621:
1486:). Since all companies maximise profits by equating
1294:{\displaystyle {\text{D}}={\text{AR}}={\text{MR}}=P}
5783:"Why Baseball's Antitrust Exemption Still Survives"
5694:. Mediadb.eu (2013-11-15). Retrieved on 2013-12-09.
3316:company in the world by revenue. It is the largest
3237:. In the United States, public utilities are often
512:
500:
78:. Unsourced material may be challenged and removed.
5966:. Cambridge, Massachusetts: Schenkman Pbl., 1978.
5597:. post-gazette.com – PG Publishing. Archived from
4981:
4272:
4230:
4177:
4000:
3828:
3603:huge amounts of assets, companies and corporations
2194:
2167:
2140:
1893:
1866:
1767:
1740:
1704:
1666:
1637:
1590:
1555:
1522:
1500:
1478:
1452:
1432:
1392:
1345:
1293:
1249:
5964:Beyond Monopoly Capitalism and Monopoly Socialism
5806:"Donald Trump and the USFL: A 'Beautiful' Circus"
5591:"Steel Standing: U.S. Steel celebrates 100 years"
4769:Bamford, Colin; Grant, Susan (13 November 2014).
4371:
4369:
4367:
4351:
4349:
4026:
4024:
3999:Samuelson, William F.; Marks, Stephen G. (2003).
3977:
3863:"Railways: Structure, Regulation and Competition"
3798:
2071:may bring it closer to the realm of possibility.
1674:. Setting marginal revenue equal to zero we have
8602:
5549:, H. Holt and Co., New York, 2005, pp. 255–258.
4667:"Monopoly II: Third degree price discrimination"
4228:
3082:financial capital in Iran. Accordingly, he gave
529:which relates to a single entity's control of a
5983:Monopolized: Life in the Age of Corporate Power
5675:, November 9, 2008, Accessed November 14, 2008.
5669:, Regulators in Europe fight for independence,
5257:Guidance on Article 102 Enforcement Priorities
4812:= MC. Pindyck and Rubinfeld (2009), pp. 398–99.
4031:Nicholson, Walter; Snyder, Christopher (2007).
4030:
3768:
3073:
2733:Treaty on the Functioning of the European Union
2211:elastic demand curve and has no market power).
4951:
4713:
4711:
4643:
4641:
4631:
4629:
4498:(5th ed.). Houghton Mifflin. p. 239.
4364:
4346:
4202:Hoag, John H.; Hoag, Arleen J. (6 June 2002).
4021:
3998:
3938:Fisher, Franklin M.; McGowan, John J. (1983).
3837:
3683:, used to measure the degree of monopoly power
2490:A government-granted monopoly (also called a "
2479:
2369:(in yellow). Since the yellow area below line
2361:) but capturing some of the consumer surplus.
7949:
6056:
4974:
4972:
4839:
4837:
4433:
4355:
4064:Ayers, Rober M.; Collinge, Robert A. (2003).
4063:
3937:
2761:
2670:The examples and perspective in this section
2053:get varying discounts. This is an example of
652:to operate (e.g., certain railroad systems).
400:
6562:
5725:, American Public Transportation Association
5719:TRANSIT RIDERSHIP REPORT: First Quarter 2013
5706:ilsr.org (2020-08). Retrieved on 2024-05-30.
5433:. Presses universitaires de France: 263–65.
4768:
4735:
4535:
4418:
4090:
4088:
4086:
4084:
3807:(paperback). Thomson South-Western. p.
3703:Simulations and games in economics education
3605:– both national and international. The 2019
1019:
6498:
5704:Profiles of Monopoly: Big Cable and Telecom
5678:
5466:
5163:ICN's Unilateral Conduct Workbook Chapter 3
4775:. Cambridge University Press. p. 184.
4740:(2nd ed.). South_Western. p. 263.
4708:
4638:
4626:
4493:
4443:. Cambridge University Press. p. 312.
4159:
3950:(1). American Economic Association: 82–97.
3358:does not have the size for more companies.
2573:. Unsourced material may be challenged and
2525:
506:
494:
7956:
7942:
6063:
6049:
5840:
5652:
5491:"Informal Economy of Armenia Reconsidered"
5384:Journal of the History of Economic Thought
5377:
5063:
5061:
4969:
4834:
3540:which was upheld for the most part by the
2985:
2749:
2688:, or create a new section, as appropriate.
2332:
1802:
407:
393:
5875:"EU fines Microsoft record $ 1.3 billion"
5697:
5588:
5568:"United States Steel Corporation History"
5488:
5014:
4893:
4855:
4846:
4462:
4460:
4081:
4007:(4th ed.). Wiley. pp. 365–366.
3988:(2nd ed.). Sharpe. pp. 307–308.
3522:Examples of possible/potential monopolies
3346:United Aircraft and Transport Corporation
2935:attempts to abuse its dominant position.
2740:
2704:Learn how and when to remove this message
2593:Learn how and when to remove this message
2534:
2017:Learn how and when to remove this message
936:Learn how and when to remove this message
750:Learn how and when to remove this message
368:Enforcement authorities and organizations
138:Learn how and when to remove this message
6070:
5428:
5015:Riggs, Thomas; Bonk, Mary, eds. (2008).
4992:The New Palgrave Dictionary of Economics
4869:
4867:
4736:Hall, Robert E.; Liberman, Marc (2001).
4494:Melvin, Michael; Boyes, William (2002).
4394:Depken, Craig (23 November 2005). "10".
4201:
4186:
3462:Federal Baseball Club v. National League
3152:founded U.S. Steel in 1901 by combining
2942:
2811:
2721:
2336:
2323:
1140:
826:, the companies interact strategically.
533:to purchase a good or service, and with
7646:Reflections on the Revolution in France
5843:"Microsoft Gets Mother Of All EU Fines"
5715:
5339:
5067:
5058:
4738:Microeconomics: Theory and Applications
4437:; Boldrin, Michele (7 September 2008).
4427:
4237:(5th ed.). Prentice-Hall. p.
4144:
4113:
3269:is a semi-privatised, part state-owned
2231:resell tickets or products. In Boston,
2114:for most customers is less than one in
1922:
1400:and the marginal revenue curve is thus
14:
8603:
5936:. Little, Brown and Company. pp.
5823:EU competition policy and the consumer
5780:
5451:
5159:The Unilateral Conduct Working Group,
4900:. Cengage Learning. pp. 216–218.
4897:Economics: A Contemporary Introduction
4457:
4393:
4270:
3446:
3336:, and many small towns across the US.
3160:with Gary's Federal Steel Company and
3144:has been accused of being a monopoly.
1638:{\displaystyle {\text{TR}}=50Q-2Q^{2}}
1598:. The total revenue function would be
517:, 'to sell'), as described by
7937:
6044:
5929:
5803:
5761:
5742:
5641:
5621:"West's Encyclopedia of American Law"
5582:
5345:
5328:
5311:
5278:
5253:
5251:
5249:
5247:
5245:
5186:
5184:
5182:
5180:
5139:
5137:
4864:
4750:Besanko and Beautigam (2005), p. 451.
4726:Besanko and Beautigam (2005), p. 448.
4647:Besanko and Beautigam (2005), p. 449.
4508:Pindyck and Rubinfeld (2001), p. 328.
4321:Pindyck and Rubenfeld (2000), p. 325.
4303:Pindyck and Rubinfeld (2001), p. 370.
4162:Microeconomics, The Freedom to Choose
4094:
4078:Pindyck and Rubinfeld (2001), p. 127.
4054:Samuelson & Marks (2003), p. 365.
3805:Microeconomics: Principles and Policy
3403:but ended up trading mainly with the
3251:" monopoly in the late 19th century.
2952:The term "monopoly" first appears in
2893:
1393:{\displaystyle {\text{TR}}=ay-by^{2}}
786:The number of companies in the market
5841:Cendrowicz, Leo (27 February 2008).
4586:"5.1 The Price Elasticity of Demand"
4553:"The Limits of Price Discrimination"
4536:Krugman, Paul; Wells, Robin (2009).
3860:
3515:3 major American television channels
3472:
3263:was enforced by central government.
2656:
2571:adding citations to reliable sources
2538:
1955:adding citations to reliable sources
1926:
874:adding citations to reliable sources
845:
765:is determined by following factors:
688:adding citations to reliable sources
659:
655:
76:adding citations to reliable sources
47:
7756:The End of History and the Last Man
7666:Elements of the Philosophy of Right
5595:PG News – Business & Technology
5589:Boselovic, Len (25 February 2001).
5497:(75): 2–6 – via Academia.edu.
4978:Samuelson and Marks (2003), p. 100.
4956:(4th ed.). Wiley. p. 376.
4602:Samuelson and Marks (2006), p. 107.
4119:
3931:
2443:
1137:Monopoly versus competitive markets
24:
8512:Microfoundations of macroeconomics
7963:
5955:
5881:. 27 February 2008. Archived from
5547:invented the American supereconomy
5242:
5213:Microsoft Corporation v Commission
5177:
5134:
4938:Samuelson, P. & Nordhaus, W.:
4929:Binger and Hoffman (1998), p. 406.
3928:Binger and Hoffman (1998), p. 391.
3390:Vereenigde Oost-Indische Compagnie
3253:American Telephone & Telegraph
2853:
2622:American Telephone & Telegraph
2248:second degree price discrimination
1353:. Then the total revenue curve is
841:
164:
25:
8632:
5996:
5985:, The New Press, 2020, 336 pp.),
4229:Pindyck, R; Rubinfeld, D (2001).
3339:
3053:The Coalminers of New South Wales
2256:third degree price discrimination
2240:first degree price discrimination
2093:third degree price discrimination
2089:first degree price discrimination
1433:{\displaystyle {\text{MR}}=a-2by}
376:International Competition Network
8585:
8584:
8573:
7726:The Open Society and Its Enemies
6026:
6014:
6002:
5911:
5897:
5867:
5834:
5816:
5797:
5774:
5755:
5736:
5716:Dickens, Matthew (24 May 2013),
5709:
5635:
5613:
5560:
5523:
5501:
5482:
5460:
5068:Van Loo, Rory (1 January 2020).
4356:Binger, B.; Hoffman, E. (1998).
4279:(3rd ed.). Norton. p.
4261:Melvin and Boyes (2002), p. 245.
3705:that model monopolistic markets.
3624:
3380:
2774:
2661:
2543:
1931:
1305:P-Max quantity, price and profit
850:
664:
557:, and the possibility of a high
52:
6533:Family as a model for the state
5685:IfM – Comcast/NBCUniversal, LLC
5445:
5422:
5371:
5322:
5305:
5272:
5260:
5230:
5217:
5206:
5197:
5153:
5121:
5108:
5084:
5008:
4960:
4952:Samuelson, W; Marks, S (2005).
4945:
4932:
4923:
4914:
4887:
4825:
4815:
4798:
4789:
4762:
4753:
4744:
4729:
4720:
4699:
4659:
4650:
4617:
4596:
4578:
4544:
4529:
4520:
4511:
4502:
4487:
4478:
4469:
4412:
4387:
4378:
4360:(2nd ed.). Addison-Wesley.
4333:
4324:
4315:
4306:
4297:
4264:
4255:
4222:
4195:
4168:
4153:
4072:
4057:
4048:
4039:
3742:
3732:
3565:State retail alcohol monopolies
3477:After mergers in 1949 with the
1942:needs additional citations for
1909:
1004:might not correspond to a high
861:needs additional citations for
675:needs additional citations for
63:needs additional citations for
7883:Separation of church and state
7781:Collectivism and individualism
7736:The Origins of Totalitarianism
5905:"It's Time to Break up Disney"
5642:Lasar, Matthew (13 May 2011),
5378:Richardson, Gary (June 2001).
5203:AAMS v Commission ECR II-3413
4894:McEachern, William A. (2009).
4343:2nd ed., Wiley (2005), p. 413.
3992:
3922:
3884:
3854:
3840:Southern California Law Review
3792:
3762:
3613:'s assets sparked controversy.
3533:embrace, extend and extinguish
2966:'s cornering of the market in
2353:), reducing consumption (from
1645:and marginal revenue would be
505:, 'single, alone' and
381:List of competition regulators
13:
1:
7923:Category:Political philosophy
7796:Critique of political economy
6031:The dictionary definition of
5749:VOC Archives Appendix 2, p.14
5284:, Routledge, pp. 58–63,
4440:Against intellectual monopoly
4160:Negbennebor, Anthony (2001).
4099:(7th ed.). McGraw-Hill.
3897:The RAND Journal of Economics
3756:
3632:Business and economics portal
1556:{\displaystyle {\text{MR}}=0}
420:Restrictive market structures
7821:Institutional discrimination
7816:History of political thought
6548:Negative and positive rights
5672:International Herald Tribune
5467:Bakhchinyan, Artsvi (2017).
4398:. McGraw Hill. p. 170.
4358:Microeconomics with Calculus
3944:The American Economic Review
3409:North-West Frontier Province
3328:. Comcast has a monopoly in
3273:telecommunications company.
3196:
3090:
3074:Persian filoselle (raw silk)
1080:Control of natural resources
1040:: Economic barriers include
7:
8457:Civil engineering economics
8442:Statistical decision theory
8082:Income elasticity of demand
7831:Justification for the state
7616:Two Treatises of Government
5930:Evans, Harold, ed. (2004).
5804:Rohan, Tim (12 July 2016).
5787:Marquette Sports Law Review
5764:Journal of Sports Economics
5623:. Answers.com. 28 June 2009
5509:"Exxon Mobil – Our history"
5225:AKZO Chemie BV v Commission
5018:Government-Granted Monopoly
4942:, 17th ed. McGraw-Hill 2001
4831:Colander, David C., p. 269.
4097:Microeconomics and Behavior
4033:Intermediate Microeconomics
3617:
3451:
3308:Corporation is the largest
3279:Long Island Power Authority
3167:
3162:William Henry "Judge" Moore
2684:, discuss the issue on the
2486:Government-granted monopoly
2480:Government-granted monopoly
2456:increasing returns to scale
2175:and those who will not pay
1523:{\displaystyle {\text{MC}}}
1501:{\displaystyle {\text{MR}}}
611:government-granted monopoly
513:
501:
10:
8637:
8092:Price elasticity of supply
8087:Price elasticity of demand
8077:Cross elasticity of demand
6501:Bellum omnium contra omnes
5781:Hylton, J. Gordon (1999).
5495:Caucasus Analytical Digest
4396:Microeconomics Demystified
3593:Liquor Distribution Branch
3326:telephone service provider
3116:multinational corporations
2994:
2844:Countervailing buyer power
2802:United Brands v Commission
2782:Herfindahl–Hirschman Index
2762:Relevant geographic market
2756:United Brands v Commission
2715:
2604:
2483:
2447:
2413:than perfect competition.
2262:
2112:price elasticity of demand
1155:Marginal revenue and price
1112:anti-competitive practices
248:Anti-competitive practices
214:Herfindahl–Hirschman index
183:History of competition law
40:
29:
8568:
8535:
8414:
7971:
7918:
7768:
7537:
7185:
6918:
6798:
6717:
6629:
6620:
6486:
6320:
6249:
6078:
5489:Mikaelian, Hrant (2015).
5396:10.1080/10427710120049237
5267:Coca-Cola Co v Commission
4696:Boyes and Melvin, p. 449.
4614:Boyes and Melvin, p. 246.
4330:Nicholson (1998), p. 551.
4095:Frank, Robert H. (2008).
3986:Microeconomics in Context
3709:State monopoly capitalism
3681:Market segmentation index
3322:Internet service provider
2947:
1064:Technological superiority
1020:Sources of monopoly power
507:
495:
464:
444:
424:
36:Monopoly (disambiguation)
8148:Income–consumption curve
7706:The Revolt of the Masses
5665:26 November 2008 at the
5290:10.4324/9780203092736-14
4560:American Economic Review
4484:Hirschey (2000), p. 412.
3725:
3487:National Football League
3386:Dutch East India Company
3136:
3118:ended in 1911, when the
3001:Vending of common salt (
2616:law and trust busting).
2526:Monopolist shutdown rule
2496:monopoly") is a form of
820:monopolistic competition
796:monopolistic competition
792:Product substitutability
561:well above the seller's
41:Not to be confused with
8482:Industrial organization
7686:The Communist Manifesto
6612:Tyranny of the majority
6523:Consent of the governed
5194:(8th Edition, OUP 2015)
4795:Perloff (2009), p. 396.
4717:Perloff (2009), p. 393.
4635:Perloff (2009), p. 394.
4623:Perloff (2009), p. 404.
4191:. Dreyden. p. 426.
4068:. Pearson. p. 238.
4035:. Thomson. p. 379.
3909:10.1111/1756-2171.12027
3599:The Walt Disney Company
3542:Court of First Instance
3051:Robin Gollan argues in
3046:
2990:
2986:Monopolies of resources
2750:Relevant product market
2333:Monopoly and efficiency
2063:construct, advances in
1803:Inverse elasticity rule
1741:{\displaystyle -4Q=-50}
1705:{\displaystyle 50-4Q=0}
1591:{\displaystyle P=50-2Q}
1479:{\displaystyle y\geq 0}
1162:Product differentiation
812:economics of regulation
808:industrial organization
6563:
6513:Clash of civilizations
6499:
6019:Quotations related to
5452:Gollan, Robin (1963).
5105:. accessed 4 May 2018.
4843:Lovell (2004), p. 266.
4759:Varian (1992), p. 242.
4705:Varian (1992), p. 241.
4540:(2nd ed.). Worth.
4517:Varian (1992), p. 233.
4275:Microeconomic Analysis
4205:Introductory Economics
4174:Mankiw (2007), p. 338.
3775:Capitalism and Freedom
3646:Complementary monopoly
3158:Carnegie Steel Company
3066:Adelaide Steamship Co.
2962:. Aristotle describes
2741:Establishing dominance
2727:
2652:
2535:Breaking up monopolies
2397:
2378:
2196:
2169:
2142:
2065:information technology
1895:
1868:
1811:) can be expressed as
1769:
1768:{\displaystyle Q=12.5}
1742:
1706:
1668:
1639:
1592:
1557:
1524:
1502:
1480:
1454:
1434:
1394:
1347:
1346:{\displaystyle x=a-by}
1295:
1251:
1146:
996:can be estimated with
969:High barriers to entry
293:Occupational licensing
169:
34:. For other uses, see
8452:Engineering economics
8047:Cost–benefit analysis
6528:Divine right of kings
5991:, pp. 38, 40–42.
5318:(350 B.C.E ed.).
5238:Michelin v Commission
4861:Frank (2008), p. 266.
4852:Frank (2008), p. 394.
4384:Frank (2009), p. 378.
4375:Frank (2009), p. 377.
4312:Frank (2008), p. 342.
4126:. Blackwell. p.
4045:Frank (2009), p. 274.
3591:), British Columbia (
3363:Long Island Rail Road
3261:local loop unbundling
3247:was criticized as a "
2943:Historical monopolies
2833:Potential Competitors
2812:Other related factors
2725:
2393:The Wealth of Nations
2390:– Adam Smith (1776),
2381:
2340:
2324:Classifying customers
2197:
2195:{\displaystyle P^{*}}
2170:
2168:{\displaystyle P^{*}}
2143:
2141:{\displaystyle P^{*}}
1896:
1894:{\displaystyle E_{d}}
1869:
1770:
1743:
1707:
1669:
1667:{\displaystyle 50-4Q}
1640:
1593:
1558:
1525:
1503:
1481:
1455:
1435:
1395:
1348:
1296:
1252:
1169:Number of competitors
1144:
1119:First-mover advantage
1086:Network externalities
637:, for example with a
565:that leads to a high
168:
8611:Monopoly (economics)
8269:Price discrimination
8163:Intertemporal choice
7676:Democracy in America
7055:political philosophy
7038:political philosophy
6853:political philosophy
6682:political philosophy
6592:Separation of powers
6553:Night-watchman state
6538:Monopoly on violence
6072:Political philosophy
6011:at Wikimedia Commons
5190:Whish R and others,
4954:Managerial Economics
4873:Smith, Adam (1776),
4572:10.1257/aer.20130848
4189:Managerial Economics
4187:Hirschey, M (2000).
4123:Managerial Economics
4003:Managerial Economics
3546:European Communities
2911:Price discrimination
2682:improve this section
2672:may not represent a
2634:Kingsbury Commitment
2567:improve this section
2438:common misconception
2179:
2152:
2125:
2085:price discrimination
2035:developing countries
2030:Price discrimination
1951:improve this article
1923:Price discrimination
1878:
1815:
1753:
1717:
1681:
1649:
1602:
1567:
1539:
1512:
1490:
1464:
1444:
1404:
1357:
1322:
1261:
1201:
1181:Elasticity of demand
1054:Capital requirements
1031:Elasticity of demand
1012:and might represent
982:Price discrimination
870:improve this article
782:faced by incumbents.
684:improve this article
336:Occupational closure
331:Dividing territories
319:Essential facilities
219:Market concentration
72:improve this article
8580:Business portal
8517:Operations research
8344:Substitution effect
7866:Right-wing politics
7746:A Theory of Justice
7716:The Road to Serfdom
7636:The Social Contract
6343:Christian democracy
5690:8 June 2018 at the
5537:John D. Rockefeller
5529:Morris, Charles R.
4150:Png (1999), p. 268.
3676:History of monopoly
3609:of the majority of
3538:European Commission
3507:New Jersey Generals
3447:Professional sports
3405:Indian subcontinent
3257:Telecom New Zealand
3131:Chevron Corporation
3104:John D. Rockefeller
3059:as a result of the
2885:Single market abuse
2419:contestable markets
2402:perfect competition
1194:Profit maximization
1070:No substitute goods
816:perfect competition
800:perfect competition
639:state-owned company
635:government monopoly
553:, a lack of viable
421:
8158:Indifference curve
8126:Goods and services
8067:Economies of scope
8062:Economies of scale
7878:Political violence
7873:Political theology
7856:Left-wing politics
7851:Political spectrum
5921:. 24 October 2019.
5828:2009-03-10 at the
5810:Sports Illustrated
5658:Kevin J. O'Brien,
5601:on 12 October 2018
5511:. Exxon Mobil Corp
5168:8 May 2018 at the
5149:, 14 February 1978
5101:8 May 2018 at the
5074:Cornell Law Review
4880:2013-10-20 at the
4421:Lloyds Bank Review
4271:Varian, H (1992).
4120:Png, Ivan (1999).
3870:Policy Roundtables
3719:Unfair competition
3641:Bilateral monopoly
3481:and 1970 with the
3467:Continental League
3397:East India Company
3295:Rockaway Peninsula
3239:natural monopolies
3190:Anglo American plc
3068:Ltd v. R. & AG
2894:Examples of abuses
2874:Exclusionary abuse
2863:Exploitative abuse
2822:Actual Competitors
2728:
2379:
2192:
2165:
2138:
1906:the monopoly has.
1891:
1864:
1765:
1738:
1702:
1664:
1635:
1588:
1553:
1520:
1498:
1476:
1450:
1430:
1390:
1343:
1291:
1247:
1147:
1126:Monopolistic price
1048:Economies of scale
1042:economies of scale
644:Monopolies may be
419:
355:Regulatory capture
170:
8598:
8597:
8560:Political economy
8359:Supply and demand
8239:Pareto efficiency
7931:
7930:
7841:Philosophy of law
7786:Conflict theories
7626:The Spirit of Law
7533:
7532:
6582:Original position
6007:Media related to
5743:Van Boven, M. W.
5570:. FundingUniverse
5531:The Tycoons: How
5410:on 3 January 2014
5299:978-0-203-09273-6
5028:978-1-4144-1049-4
5001:978-0-333-78676-5
4907:978-0-324-57921-5
4875:Wealth of Nations
4782:978-1-107-67951-1
4450:978-0-521-87928-6
4290:978-0-393-95735-8
4248:978-0-13-016583-1
4215:978-981-310-591-1
4164:. CAT Publishing.
4106:978-0-07-126349-8
4014:978-0-470-00041-0
3656:De facto standard
3651:Conflict theories
3473:American Football
3320:company and home
3041:French Revolution
3037:Kingdom of France
2964:Thales of Miletus
2920:exclusive dealing
2905:Predatory pricing
2798:AKZO v Commission
2794:AAMS v Commission
2786:merger guidelines
2714:
2713:
2706:
2603:
2602:
2595:
2499:coercive monopoly
2427:barriers to entry
2321:
2320:
2077:market segmenting
2027:
2026:
2019:
2001:
1862:
1837:
1790:is to equate the
1608:
1545:
1518:
1496:
1453:{\displaystyle x}
1410:
1363:
1283:
1275:
1267:
1239:
1220:
1216:
1207:
1175:Barriers to entry
1038:Economic barriers
946:
945:
938:
920:
771:Barriers to entry
760:
759:
752:
734:
656:Market structures
484:
483:
417:
416:
346:Misuse of patents
341:Predatory pricing
326:Exclusive dealing
209:Barriers to entry
197:Coercive monopoly
148:
147:
140:
122:
16:(Redirected from
8628:
8616:Market structure
8588:
8587:
8578:
8577:
8320:Returns to scale
8178:Market structure
7958:
7951:
7944:
7935:
7934:
7846:Political ethics
7836:Machiavellianism
7776:Authoritarianism
7761:
7751:
7741:
7731:
7721:
7711:
7701:
7691:
7681:
7671:
7661:
7651:
7641:
7631:
7621:
7611:
7601:
7591:
7581:
7571:
7561:
7551:
6627:
6626:
6568:
6504:
6494:Balance of power
6468:Social democracy
6463:Social Darwinism
6438:Multiculturalism
6383:Environmentalism
6358:Communitarianism
6065:
6058:
6051:
6042:
6041:
6030:
6018:
6006:
5951:
5923:
5922:
5915:
5909:
5908:
5901:
5895:
5894:
5892:
5890:
5871:
5865:
5864:
5862:
5860:
5851:. Archived from
5838:
5832:
5820:
5814:
5813:
5801:
5795:
5794:
5793:(2). Article 11.
5778:
5772:
5771:
5759:
5753:
5752:
5740:
5734:
5733:
5732:
5730:
5724:
5713:
5707:
5701:
5695:
5682:
5676:
5656:
5650:
5649:
5639:
5633:
5632:
5630:
5628:
5617:
5611:
5610:
5608:
5606:
5586:
5580:
5579:
5577:
5575:
5564:
5558:
5527:
5521:
5520:
5518:
5516:
5505:
5499:
5498:
5486:
5480:
5479:
5473:
5464:
5458:
5457:
5449:
5443:
5442:
5426:
5420:
5419:
5417:
5415:
5406:. Archived from
5375:
5369:
5368:
5343:
5337:
5336:
5335:. p. 1252α.
5326:
5320:
5319:
5309:
5303:
5302:
5276:
5270:
5264:
5258:
5255:
5240:
5234:
5228:
5221:
5215:
5210:
5204:
5201:
5195:
5188:
5175:
5157:
5151:
5150:
5141:
5132:
5125:
5119:
5112:
5106:
5090:DG Competition,
5088:
5082:
5081:
5065:
5056:
5055:
5053:
5051:
5012:
5006:
5005:
4988:
4979:
4976:
4967:
4964:
4958:
4957:
4949:
4943:
4936:
4930:
4927:
4921:
4918:
4912:
4911:
4891:
4885:
4871:
4862:
4859:
4853:
4850:
4844:
4841:
4832:
4829:
4823:
4819:
4813:
4802:
4796:
4793:
4787:
4786:
4766:
4760:
4757:
4751:
4748:
4742:
4741:
4733:
4727:
4724:
4718:
4715:
4706:
4703:
4697:
4694:
4683:
4682:
4680:
4678:
4663:
4657:
4656:Wessels, p. 159.
4654:
4648:
4645:
4636:
4633:
4624:
4621:
4615:
4612:
4603:
4600:
4594:
4593:
4582:
4576:
4575:
4557:
4548:
4542:
4541:
4533:
4527:
4524:
4518:
4515:
4509:
4506:
4500:
4499:
4491:
4485:
4482:
4476:
4473:
4467:
4464:
4455:
4454:
4431:
4425:
4424:
4416:
4410:
4409:
4391:
4385:
4382:
4376:
4373:
4362:
4361:
4353:
4344:
4337:
4331:
4328:
4322:
4319:
4313:
4310:
4304:
4301:
4295:
4294:
4278:
4268:
4262:
4259:
4253:
4252:
4236:
4226:
4220:
4219:
4199:
4193:
4192:
4184:
4175:
4172:
4166:
4165:
4157:
4151:
4148:
4142:
4141:
4117:
4111:
4110:
4092:
4079:
4076:
4070:
4069:
4061:
4055:
4052:
4046:
4043:
4037:
4036:
4028:
4019:
4018:
4006:
3996:
3990:
3989:
3981:
3975:
3974:
3972:
3970:
3935:
3929:
3926:
3920:
3919:
3917:
3915:
3888:
3882:
3881:
3879:
3877:
3867:
3858:
3852:
3851:
3835:
3826:
3825:
3796:
3790:
3789:
3766:
3750:
3746:
3740:
3736:
3714:Trust (business)
3661:Demonopolization
3634:
3629:
3628:
3611:20th Century Fox
3595:), among others.
3458:US Supreme Court
3275:Deutsche Telekom
3231:cable television
3098:was an American
3024:revenue for the
2929:product bundling
2925:Tying (commerce)
2709:
2702:
2698:
2695:
2689:
2665:
2664:
2657:
2618:Public utilities
2598:
2591:
2587:
2584:
2578:
2547:
2539:
2474:Social Economics
2461:Social Economics
2450:Natural monopoly
2444:Natural monopoly
2271:
2270:
2201:
2199:
2198:
2193:
2191:
2190:
2174:
2172:
2171:
2166:
2164:
2163:
2147:
2145:
2144:
2139:
2137:
2136:
2105:gains from trade
2087:(this is termed
2060:consumer surplus
2022:
2015:
2011:
2008:
2002:
2000:
1959:
1935:
1927:
1900:
1898:
1897:
1892:
1890:
1889:
1873:
1871:
1870:
1865:
1863:
1861:
1860:
1851:
1843:
1838:
1833:
1819:
1796:marginal revenue
1774:
1772:
1771:
1766:
1747:
1745:
1744:
1739:
1711:
1709:
1708:
1703:
1673:
1671:
1670:
1665:
1644:
1642:
1641:
1636:
1634:
1633:
1609:
1606:
1597:
1595:
1594:
1589:
1562:
1560:
1559:
1554:
1546:
1543:
1529:
1527:
1526:
1521:
1519:
1516:
1507:
1505:
1504:
1499:
1497:
1494:
1485:
1483:
1482:
1477:
1459:
1457:
1456:
1451:
1439:
1437:
1436:
1431:
1411:
1408:
1399:
1397:
1396:
1391:
1389:
1388:
1364:
1361:
1352:
1350:
1349:
1344:
1300:
1298:
1297:
1292:
1284:
1281:
1276:
1273:
1268:
1265:
1256:
1254:
1253:
1248:
1240:
1232:
1221:
1214:
1213:
1208:
1205:
957:abnormal profits
953:Profit maximizer
941:
934:
930:
927:
921:
919:
878:
854:
846:
763:Market structure
755:
748:
744:
741:
735:
733:
692:
668:
660:
606:competition laws
555:substitute goods
516:
510:
509:
504:
498:
497:
422:
418:
409:
402:
395:
300:Product bundling
202:Natural monopoly
154:
153:
143:
136:
132:
129:
123:
121:
80:
56:
48:
21:
8636:
8635:
8631:
8630:
8629:
8627:
8626:
8625:
8601:
8600:
8599:
8594:
8572:
8564:
8531:
8410:
8052:Deadweight loss
7989:Consumer choice
7967:
7962:
7932:
7927:
7914:
7903:Totalitarianism
7764:
7759:
7749:
7739:
7729:
7719:
7709:
7699:
7689:
7679:
7669:
7659:
7649:
7639:
7629:
7619:
7609:
7599:
7589:
7579:
7576:Treatise on Law
7569:
7559:
7549:
7529:
7187:
7181:
6920:
6914:
6800:
6794:
6713:
6616:
6602:State of nature
6597:Social contract
6577:Ordered liberty
6565:Noblesse oblige
6482:
6316:
6245:
6074:
6069:
5999:
5994:
5958:
5956:Further reading
5948:
5926:
5917:
5916:
5912:
5907:. October 2019.
5903:
5902:
5898:
5888:
5886:
5885:on 3 March 2008
5873:
5872:
5868:
5858:
5856:
5855:on 2 March 2008
5839:
5835:
5830:Wayback Machine
5821:
5817:
5802:
5798:
5779:
5775:
5760:
5756:
5741:
5737:
5728:
5726:
5722:
5714:
5710:
5702:
5698:
5692:Wayback Machine
5683:
5679:
5667:Wayback Machine
5657:
5653:
5640:
5636:
5626:
5624:
5619:
5618:
5614:
5604:
5602:
5587:
5583:
5573:
5571:
5566:
5565:
5561:
5533:Andrew Carnegie
5528:
5524:
5514:
5512:
5507:
5506:
5502:
5487:
5483:
5471:
5465:
5461:
5450:
5446:
5427:
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5376:
5372:
5362:
5344:
5340:
5327:
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5310:
5306:
5300:
5277:
5273:
5265:
5261:
5256:
5243:
5235:
5231:
5222:
5218:
5211:
5207:
5202:
5198:
5192:Competition Law
5189:
5178:
5170:Wayback Machine
5158:
5154:
5143:
5142:
5135:
5126:
5122:
5113:
5109:
5103:Wayback Machine
5089:
5085:
5066:
5059:
5049:
5047:
5029:
5013:
5009:
5002:
4990:
4989:
4982:
4977:
4970:
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4950:
4946:
4937:
4933:
4928:
4924:
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3770:Milton Friedman
3767:
3763:
3759:
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3743:
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3728:
3723:
3687:Megacorporation
3666:Dominant design
3630:
3623:
3620:
3524:
3495:Herschel Walker
3475:
3454:
3449:
3383:
3352:Iarnród Éireann
3342:
3199:
3170:
3154:Andrew Carnegie
3139:
3093:
3076:
3049:
3018:Salt Commission
3003:sodium chloride
2999:
2993:
2988:
2970:as a monopoly (
2950:
2945:
2916:Refusal to deal
2907:or undercutting
2900:Limiting supply
2896:
2856:
2854:Types of abuses
2814:
2777:
2764:
2752:
2743:
2720:
2718:Competition law
2710:
2699:
2693:
2690:
2679:
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2624:(AT&T) and
2609:
2607:Competition law
2599:
2588:
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2579:
2564:
2548:
2537:
2528:
2488:
2482:
2452:
2446:
2406:deadweight loss
2398:
2367:deadweight loss
2335:
2326:
2265:
2186:
2182:
2180:
2177:
2176:
2159:
2155:
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2149:
2132:
2128:
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2122:
2110:As long as the
2103:; however, all
2101:deadweight loss
2051:market segments
2023:
2012:
2006:
2003:
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1958:
1948:
1936:
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1204:
1202:
1199:
1198:
1139:
1022:
1010:monopoly prices
942:
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925:
922:
879:
877:
867:
855:
844:
842:Characteristics
756:
745:
739:
736:
693:
691:
681:
669:
658:
567:monopoly profit
545:to produce the
413:
309:Refusal to deal
288:Tacit collusion
234:Relevant market
158:Competition law
144:
133:
127:
124:
81:
79:
69:
57:
46:
39:
32:Monopoly (game)
28:
23:
22:
15:
12:
11:
5:
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8555:Macroeconomics
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8276:
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8266:
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8256:
8254:Price controls
8246:
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8229:
8224:
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8202:
8197:
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8173:Market failure
8170:
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8000:
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7965:Microeconomics
7961:
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7893:Social justice
7890:
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7858:
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7843:
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7833:
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7823:
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7808:
7803:
7801:Egalitarianism
7798:
7793:
7791:Contractualism
7788:
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7778:
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7763:
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6614:
6609:
6604:
6599:
6594:
6589:
6587:Overton window
6584:
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6425:
6420:
6418:Libertarianism
6415:
6410:
6405:
6400:
6395:
6390:
6385:
6380:
6375:
6370:
6365:
6360:
6355:
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6123:
6118:
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6053:
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5998:
5997:External links
5995:
5993:
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5975:
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5957:
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5946:
5925:
5924:
5910:
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5773:
5754:
5735:
5708:
5696:
5677:
5651:
5648:, Ars technica
5634:
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5581:
5559:
5522:
5500:
5481:
5459:
5444:
5421:
5390:(2): 217–242.
5370:
5360:
5338:
5321:
5304:
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5271:
5259:
5241:
5236:Case T-203/01
5229:
5223:Case C- 62/86
5216:
5205:
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5133:
5120:
5107:
5083:
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5000:
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4940:Microeconomics
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4707:
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4658:
4649:
4637:
4625:
4616:
4604:
4595:
4577:
4566:(3): 921–957.
4543:
4538:Microeconomics
4528:
4519:
4510:
4501:
4496:Microeconomics
4486:
4477:
4475:Tirole, p. 65.
4468:
4466:Tirole, p. 66.
4456:
4449:
4426:
4411:
4404:
4386:
4377:
4363:
4345:
4341:Microeconomics
4332:
4323:
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4305:
4296:
4289:
4263:
4254:
4247:
4233:Microeconomics
4221:
4214:
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4080:
4071:
4066:Microeconomics
4056:
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4038:
4020:
4013:
3991:
3976:
3930:
3921:
3883:
3853:
3827:
3817:
3801:"11: Monopoly"
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3700:
3697:Ramsey problem
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3379:
3341:
3340:Transportation
3338:
3314:communications
3211:public service
3207:infrastructure
3203:public utility
3198:
3195:
3182:blood diamonds
3169:
3166:
3150:Elbert H. Gary
3138:
3135:
3092:
3089:
3075:
3072:
3061:business cycle
3048:
3045:
2992:
2989:
2987:
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2976:tractate Demai
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2739:
2716:Main article:
2712:
2711:
2694:September 2018
2676:of the subject
2674:worldwide view
2669:
2667:
2660:
2654:
2651:
2605:Main article:
2601:
2600:
2551:
2549:
2542:
2536:
2533:
2527:
2524:
2484:Main article:
2481:
2478:
2448:Main article:
2445:
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2380:
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2189:
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2135:
2131:
2116:absolute value
2069:micromarketing
2025:
2024:
1939:
1937:
1930:
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1911:
1908:
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1859:
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1271:
1246:
1243:
1238:
1235:
1230:
1227:
1224:
1219:
1211:
1190:
1187:Excess profits
1184:
1178:
1172:
1166:
1158:
1138:
1135:
1130:
1129:
1123:
1115:
1105:
1099:
1096:Legal barriers
1093:
1090:network effect
1083:
1077:
1067:
1061:
1051:
1045:
1035:
1021:
1018:
1006:rate of return
1002:profit margins
991:
990:
978:
972:
966:
960:
944:
943:
858:
856:
849:
843:
840:
804:
803:
798:market from a
789:
783:
758:
757:
672:
670:
663:
657:
654:
619:interest group
615:legal monopoly
577:refers to the
559:monopoly price
482:
481:
476:
471:
466:
462:
461:
456:
451:
446:
442:
441:
436:
431:
426:
415:
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404:
397:
389:
386:
385:
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378:
370:
369:
365:
364:
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328:
323:
322:
321:
316:
306:
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280:
270:
259:
257:Monopolization
251:
250:
244:
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241:
239:Merger control
236:
231:
226:
221:
216:
211:
206:
205:
204:
199:
185:
177:
176:
175:Basic concepts
172:
171:
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146:
145:
60:
58:
51:
26:
9:
6:
4:
3:
2:
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8488:
8487:Institutional
8485:
8483:
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8473:
8470:
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8460:
8458:
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8453:
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8443:
8440:
8438:
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8433:
8432:Computational
8430:
8428:
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8423:
8420:
8419:
8417:
8413:
8407:
8404:
8400:
8397:
8395:
8392:
8391:
8390:
8387:
8385:
8382:
8378:
8377:Law of supply
8374:
8371:
8369:
8368:Law of demand
8365:
8362:
8361:
8360:
8357:
8355:
8354:Social choice
8352:
8350:
8347:
8345:
8342:
8340:
8339:Excess supply
8336:
8333:
8331:
8328:
8326:
8325:Risk aversion
8323:
8321:
8318:
8316:
8313:
8311:
8308:
8306:
8303:
8301:
8298:
8296:
8293:
8289:
8286:
8284:
8280:
8277:
8275:
8272:
8270:
8267:
8265:
8262:
8260:
8259:Price ceiling
8257:
8255:
8252:
8251:
8250:
8247:
8245:
8242:
8240:
8237:
8233:
8230:
8228:
8225:
8223:
8220:
8216:
8215:Complementary
8213:
8211:
8208:
8207:
8206:
8203:
8201:
8198:
8194:
8191:
8189:
8186:
8185:
8184:
8181:
8180:
8179:
8176:
8174:
8171:
8169:
8166:
8164:
8161:
8159:
8156:
8154:
8151:
8149:
8146:
8144:
8141:
8137:
8134:
8132:
8129:
8128:
8127:
8124:
8122:
8119:
8117:
8114:
8112:
8109:
8105:
8102:
8101:
8100:
8097:
8093:
8090:
8088:
8085:
8083:
8080:
8078:
8075:
8074:
8073:
8070:
8068:
8065:
8063:
8060:
8058:
8055:
8053:
8050:
8048:
8045:
8041:
8038:
8036:
8033:
8031:
8028:
8024:
8021:
8020:
8019:
8016:
8014:
8011:
8009:
8006:
8005:
8004:
8001:
7999:
7998:non-convexity
7995:
7992:
7990:
7987:
7985:
7982:
7980:
7977:
7976:
7974:
7970:
7966:
7959:
7954:
7952:
7947:
7945:
7940:
7939:
7936:
7924:
7921:
7920:
7917:
7911:
7910:
7906:
7904:
7901:
7899:
7896:
7894:
7891:
7889:
7886:
7884:
7881:
7879:
7876:
7874:
7871:
7867:
7864:
7862:
7859:
7857:
7854:
7853:
7852:
7849:
7847:
7844:
7842:
7839:
7837:
7834:
7832:
7829:
7827:
7826:Jurisprudence
7824:
7822:
7819:
7817:
7814:
7812:
7809:
7807:
7804:
7802:
7799:
7797:
7794:
7792:
7789:
7787:
7784:
7782:
7779:
7777:
7774:
7773:
7771:
7767:
7758:
7757:
7753:
7748:
7747:
7743:
7738:
7737:
7733:
7728:
7727:
7723:
7718:
7717:
7713:
7708:
7707:
7703:
7698:
7697:
7693:
7688:
7687:
7683:
7678:
7677:
7673:
7668:
7667:
7663:
7658:
7657:
7656:Rights of Man
7653:
7648:
7647:
7643:
7638:
7637:
7633:
7628:
7627:
7623:
7618:
7617:
7613:
7608:
7607:
7603:
7598:
7597:
7593:
7588:
7587:
7583:
7578:
7577:
7573:
7568:
7567:
7566:De re publica
7563:
7558:
7557:
7553:
7548:
7547:
7543:
7542:
7540:
7536:
7526:
7523:
7521:
7518:
7516:
7513:
7511:
7508:
7506:
7503:
7501:
7498:
7496:
7493:
7491:
7488:
7486:
7483:
7481:
7478:
7476:
7473:
7471:
7468:
7466:
7463:
7461:
7458:
7456:
7453:
7451:
7448:
7446:
7443:
7441:
7438:
7436:
7433:
7431:
7428:
7426:
7423:
7421:
7418:
7416:
7413:
7411:
7408:
7406:
7403:
7401:
7398:
7396:
7393:
7391:
7388:
7386:
7383:
7381:
7378:
7376:
7373:
7371:
7368:
7366:
7363:
7361:
7358:
7356:
7353:
7351:
7348:
7346:
7343:
7341:
7338:
7336:
7333:
7331:
7328:
7326:
7323:
7321:
7318:
7316:
7313:
7311:
7308:
7306:
7303:
7301:
7298:
7296:
7293:
7291:
7288:
7286:
7283:
7281:
7278:
7276:
7273:
7271:
7268:
7266:
7263:
7261:
7258:
7256:
7253:
7251:
7248:
7246:
7243:
7241:
7238:
7236:
7233:
7231:
7228:
7226:
7223:
7221:
7218:
7216:
7213:
7211:
7208:
7206:
7203:
7201:
7198:
7196:
7193:
7192:
7190:
7186:20th and 21st
7184:
7178:
7175:
7173:
7170:
7168:
7165:
7163:
7160:
7158:
7155:
7153:
7150:
7148:
7145:
7143:
7140:
7138:
7135:
7133:
7130:
7128:
7125:
7123:
7120:
7118:
7115:
7113:
7110:
7108:
7105:
7103:
7100:
7098:
7095:
7093:
7090:
7088:
7085:
7083:
7080:
7078:
7075:
7073:
7070:
7068:
7065:
7063:
7060:
7056:
7053:
7052:
7051:
7048:
7046:
7043:
7039:
7036:
7035:
7034:
7031:
7029:
7026:
7024:
7021:
7019:
7016:
7014:
7011:
7009:
7006:
7004:
7001:
6999:
6996:
6994:
6991:
6989:
6986:
6984:
6981:
6979:
6976:
6974:
6971:
6969:
6966:
6964:
6961:
6959:
6956:
6954:
6951:
6949:
6946:
6944:
6941:
6939:
6936:
6934:
6931:
6929:
6926:
6925:
6923:
6919:18th and 19th
6917:
6911:
6908:
6906:
6903:
6901:
6898:
6896:
6893:
6891:
6888:
6886:
6883:
6881:
6878:
6876:
6873:
6871:
6868:
6866:
6863:
6861:
6858:
6854:
6851:
6850:
6849:
6846:
6844:
6841:
6839:
6836:
6834:
6831:
6829:
6826:
6824:
6821:
6819:
6816:
6814:
6811:
6809:
6806:
6805:
6803:
6797:
6791:
6788:
6786:
6783:
6781:
6778:
6776:
6775:Nizam al-Mulk
6773:
6771:
6768:
6766:
6763:
6761:
6758:
6756:
6753:
6751:
6748:
6746:
6743:
6741:
6738:
6736:
6733:
6731:
6728:
6726:
6723:
6722:
6720:
6716:
6710:
6707:
6705:
6702:
6700:
6697:
6695:
6692:
6690:
6687:
6683:
6680:
6679:
6678:
6675:
6673:
6670:
6668:
6665:
6663:
6660:
6658:
6655:
6653:
6650:
6648:
6645:
6643:
6640:
6638:
6635:
6634:
6632:
6628:
6625:
6623:
6619:
6613:
6610:
6608:
6605:
6603:
6600:
6598:
6595:
6593:
6590:
6588:
6585:
6583:
6580:
6578:
6575:
6573:
6570:
6567:
6566:
6561:
6559:
6556:
6554:
6551:
6549:
6546:
6544:
6541:
6539:
6536:
6534:
6531:
6529:
6526:
6524:
6521:
6519:
6516:
6514:
6511:
6509:
6506:
6503:
6502:
6497:
6495:
6492:
6491:
6489:
6485:
6479:
6476:
6474:
6471:
6469:
6466:
6464:
6461:
6459:
6458:Republicanism
6456:
6454:
6451:
6449:
6446:
6444:
6441:
6439:
6436:
6434:
6431:
6429:
6426:
6424:
6421:
6419:
6416:
6414:
6411:
6409:
6406:
6404:
6401:
6399:
6396:
6394:
6391:
6389:
6386:
6384:
6381:
6379:
6376:
6374:
6371:
6369:
6366:
6364:
6361:
6359:
6356:
6354:
6351:
6349:
6346:
6344:
6341:
6339:
6336:
6334:
6331:
6329:
6326:
6325:
6323:
6319:
6313:
6310:
6308:
6305:
6303:
6300:
6298:
6295:
6293:
6290:
6288:
6285:
6283:
6280:
6278:
6275:
6273:
6270:
6268:
6265:
6263:
6260:
6258:
6255:
6254:
6252:
6248:
6242:
6239:
6237:
6234:
6232:
6229:
6227:
6224:
6222:
6219:
6217:
6214:
6212:
6209:
6207:
6204:
6202:
6199:
6197:
6194:
6192:
6189:
6187:
6184:
6182:
6179:
6177:
6174:
6172:
6169:
6167:
6164:
6162:
6159:
6157:
6154:
6152:
6149:
6147:
6144:
6142:
6139:
6137:
6134:
6132:
6129:
6127:
6124:
6122:
6119:
6117:
6114:
6112:
6109:
6107:
6104:
6102:
6099:
6097:
6094:
6092:
6089:
6087:
6084:
6083:
6081:
6077:
6073:
6066:
6061:
6059:
6054:
6052:
6047:
6046:
6043:
6037:at Wiktionary
6036:
6035:
6029:
6025:
6022:
6017:
6013:
6010:
6005:
6001:
6000:
5990:
5989:
5984:
5980:
5976:
5973:
5972:0-87073-938-7
5969:
5965:
5961:
5960:
5949:
5947:0-316-27766-5
5943:
5939:
5935:
5934:
5928:
5927:
5920:
5914:
5906:
5900:
5884:
5880:
5876:
5870:
5854:
5850:
5849:
5844:
5837:
5831:
5827:
5824:
5819:
5811:
5807:
5800:
5792:
5788:
5784:
5777:
5770:(4): 438–455.
5769:
5765:
5758:
5750:
5746:
5739:
5721:
5720:
5712:
5705:
5700:
5693:
5689:
5686:
5681:
5674:
5673:
5668:
5664:
5661:
5655:
5647:
5646:
5638:
5622:
5616:
5600:
5596:
5592:
5585:
5569:
5563:
5556:
5555:0-8050-7599-2
5552:
5548:
5546:
5542:
5538:
5534:
5526:
5510:
5504:
5496:
5492:
5485:
5477:
5470:
5463:
5455:
5448:
5440:
5436:
5432:
5425:
5409:
5405:
5401:
5397:
5393:
5389:
5385:
5381:
5374:
5367:
5363:
5361:9789562913447
5357:
5353:
5349:
5342:
5334:
5333:
5325:
5317:
5316:
5308:
5301:
5295:
5291:
5287:
5283:
5275:
5268:
5263:
5254:
5252:
5250:
5248:
5246:
5239:
5233:
5226:
5220:
5214:
5209:
5200:
5193:
5187:
5185:
5183:
5181:
5173:
5171:
5167:
5164:
5156:
5148:
5147:
5140:
5138:
5130:
5124:
5117:
5111:
5104:
5100:
5096:
5093:
5087:
5079:
5075:
5071:
5064:
5062:
5046:
5042:
5038:
5034:
5030:
5024:
5020:
5019:
5011:
5003:
4997:
4993:
4987:
4985:
4975:
4973:
4963:
4955:
4948:
4941:
4935:
4926:
4917:
4909:
4903:
4899:
4898:
4890:
4883:
4879:
4876:
4870:
4868:
4858:
4849:
4840:
4838:
4828:
4818:
4801:
4792:
4784:
4778:
4774:
4773:
4765:
4756:
4747:
4739:
4732:
4723:
4714:
4712:
4702:
4693:
4691:
4689:
4673:. 19 May 2013
4672:
4668:
4662:
4653:
4644:
4642:
4632:
4630:
4620:
4611:
4609:
4599:
4591:
4587:
4581:
4573:
4569:
4565:
4561:
4554:
4547:
4539:
4532:
4523:
4514:
4505:
4497:
4490:
4481:
4472:
4463:
4461:
4452:
4446:
4442:
4441:
4436:
4435:Levine, David
4430:
4423:(153): 38–52.
4422:
4415:
4407:
4405:0-07-145911-1
4401:
4397:
4390:
4381:
4372:
4370:
4368:
4359:
4352:
4350:
4342:
4336:
4327:
4318:
4309:
4300:
4292:
4286:
4282:
4277:
4276:
4267:
4258:
4250:
4244:
4240:
4235:
4234:
4225:
4217:
4211:
4207:
4206:
4198:
4190:
4183:
4181:
4171:
4163:
4156:
4147:
4139:
4137:1-55786-927-8
4133:
4129:
4125:
4124:
4116:
4108:
4102:
4098:
4091:
4089:
4087:
4085:
4075:
4067:
4060:
4051:
4042:
4034:
4027:
4025:
4016:
4010:
4005:
4004:
3995:
3987:
3980:
3965:
3961:
3957:
3953:
3949:
3945:
3941:
3934:
3925:
3910:
3906:
3902:
3898:
3894:
3887:
3871:
3864:
3861:OECD (1997).
3857:
3849:
3845:
3841:
3834:
3832:
3824:
3820:
3818:0-324-22115-0
3814:
3810:
3806:
3802:
3795:
3787:
3785:0-226-26421-1
3781:
3777:
3776:
3771:
3765:
3761:
3745:
3735:
3731:
3720:
3717:
3715:
3712:
3710:
3707:
3704:
3701:
3698:
3695:
3693:
3690:
3688:
3685:
3682:
3679:
3677:
3674:
3672:
3669:
3667:
3664:
3662:
3659:
3657:
3654:
3652:
3649:
3647:
3644:
3642:
3639:
3638:
3633:
3627:
3622:
3612:
3608:
3604:
3600:
3597:
3594:
3590:
3586:
3582:
3578:
3574:
3573:Systembolaget
3570:
3566:
3562:
3559:
3556:
3553:
3550:
3547:
3543:
3539:
3535:
3534:
3529:
3526:
3525:
3519:
3516:
3512:
3508:
3504:
3500:
3496:
3492:
3488:
3484:
3480:
3470:
3468:
3463:
3459:
3456:In 1922, the
3444:
3442:
3438:
3434:
3430:
3426:
3422:
3418:
3414:
3410:
3406:
3402:
3398:
3393:
3391:
3387:
3381:Foreign trade
3378:
3376:
3375:commuter rail
3372:
3371:New York City
3368:
3364:
3359:
3357:
3353:
3349:
3347:
3337:
3335:
3331:
3327:
3323:
3319:
3315:
3311:
3307:
3302:
3300:
3296:
3292:
3288:
3284:
3280:
3276:
3272:
3271:South African
3268:
3264:
3262:
3258:
3254:
3250:
3249:price gouging
3246:
3245:Western Union
3242:
3240:
3236:
3232:
3228:
3224:
3220:
3216:
3212:
3208:
3204:
3194:
3191:
3186:
3183:
3177:
3174:
3165:
3163:
3159:
3155:
3151:
3147:
3143:
3134:
3132:
3128:
3124:
3123:Supreme Court
3121:
3120:United States
3117:
3113:
3112:Trust-busting
3109:
3105:
3101:
3097:
3088:
3085:
3081:
3071:
3069:
3067:
3062:
3058:
3054:
3044:
3042:
3038:
3034:
3029:
3027:
3023:
3019:
3014:
3012:
3008:
3004:
2998:
2983:
2981:
2977:
2973:
2969:
2968:olive presses
2965:
2961:
2960:
2955:
2940:
2936:
2930:
2926:
2923:
2921:
2917:
2914:
2912:
2909:
2906:
2903:
2901:
2898:
2897:
2891:
2886:
2883:
2882:
2881:
2875:
2872:
2871:
2870:
2864:
2861:
2860:
2859:
2851:
2845:
2842:
2841:
2840:
2834:
2831:
2830:
2829:
2823:
2820:
2819:
2818:
2809:
2805:
2803:
2799:
2795:
2789:
2787:
2783:
2775:Market shares
2772:
2768:
2759:
2757:
2747:
2738:
2735:
2734:
2724:
2719:
2708:
2705:
2697:
2687:
2683:
2677:
2675:
2668:
2659:
2658:
2650:
2649:
2646:
2643:
2639:
2635:
2631:
2627:
2623:
2619:
2615:
2608:
2597:
2594:
2586:
2576:
2572:
2568:
2562:
2561:
2557:
2552:This section
2550:
2546:
2541:
2540:
2532:
2523:
2521:
2517:
2513:
2509:
2505:
2501:
2500:
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2183:
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2119:
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2108:
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2102:
2098:
2094:
2090:
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2080:
2078:
2072:
2070:
2066:
2061:
2056:
2052:
2048:
2044:
2040:
2036:
2031:
2021:
2018:
2010:
1999:
1996:
1992:
1989:
1985:
1982:
1978:
1975:
1971:
1968: –
1967:
1963:
1962:Find sources:
1956:
1952:
1946:
1945:
1940:This section
1938:
1934:
1929:
1928:
1920:
1916:
1907:
1905:
1904:pricing power
1886:
1882:
1857:
1853:
1848:
1845:
1839:
1834:
1830:
1827:
1824:
1821:
1810:
1800:
1797:
1793:
1792:marginal cost
1787:
1783:
1779:
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1749:
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1550:
1547:
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1470:
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1412:
1385:
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1377:
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1371:
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1309:
1306:
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1269:
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1209:
1196:
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1188:
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1173:
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1153:
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1151:
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1134:
1127:
1124:
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1120:
1116:
1113:
1109:
1106:
1103:
1100:
1097:
1094:
1091:
1087:
1084:
1081:
1078:
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1068:
1065:
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1059:
1055:
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1049:
1046:
1043:
1039:
1036:
1033:
1032:
1028:
1027:
1026:
1017:
1015:
1014:risk premiums
1011:
1007:
1003:
999:
995:
988:
984:
983:
979:
976:
975:Single seller
973:
970:
967:
964:
961:
958:
954:
951:
950:
949:
940:
937:
929:
918:
915:
911:
908:
904:
901:
897:
894:
890:
887: –
886:
882:
881:Find sources:
875:
871:
865:
864:
859:This section
857:
853:
848:
847:
839:
836:
831:
827:
825:
821:
817:
813:
809:
801:
797:
793:
790:
787:
784:
781:
777:
773:
772:
768:
767:
766:
764:
754:
751:
743:
732:
729:
725:
722:
718:
715:
711:
708:
704:
701: –
700:
696:
695:Find sources:
689:
685:
679:
678:
673:This section
671:
667:
662:
661:
653:
651:
647:
642:
640:
636:
632:
628:
624:
620:
616:
612:
607:
603:
598:
596:
592:
587:
585:
580:
576:
572:
568:
564:
563:marginal cost
560:
556:
552:
548:
544:
540:
536:
532:
528:
524:
520:
519:Irving Fisher
515:
503:
493:
489:
480:
477:
475:
472:
470:
467:
463:
460:
457:
455:
452:
450:
447:
443:
440:
437:
435:
432:
430:
427:
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410:
405:
403:
398:
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388:
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372:
371:
367:
366:
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353:
351:
347:
344:
342:
339:
337:
334:
332:
329:
327:
324:
320:
317:
315:
314:Group boycott
312:
311:
310:
307:
305:
301:
298:
294:
291:
289:
286:
284:
281:
278:
274:
271:
269:
266:Formation of
265:
264:
263:
260:
258:
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249:
246:
245:
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237:
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139:
131:
120:
117:
113:
110:
106:
103:
99:
96:
92:
89: –
88:
84:
83:Find sources:
77:
73:
67:
66:
61:This article
59:
55:
50:
49:
44:
37:
33:
19:
8522:Optimization
8507:Mathematical
8467:Experimental
8462:Evolutionary
8447:Econometrics
8305:Public goods
8279:Price system
8274:Price signal
8204:
8188:Monopolistic
8057:Distribution
7972:Major topics
7907:
7806:Elite theory
7754:
7744:
7734:
7724:
7714:
7704:
7694:
7684:
7674:
7664:
7654:
7644:
7634:
7624:
7614:
7604:
7594:
7584:
7574:
7564:
7554:
7544:
6843:Guicciardini
6799:Early modern
6622:Philosophers
6572:Open society
6508:Body politic
6378:Distributism
6368:Conservatism
6363:Confucianism
6282:Gerontocracy
6272:Dictatorship
6226:Sovereignty
6216:Ruling class
6150:
6106:Emancipation
6091:Citizenship
6033:
6023:at Wikiquote
5986:
5982:
5963:
5962:Guy Ankerl,
5932:
5913:
5899:
5887:. Retrieved
5883:the original
5869:
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5853:the original
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5727:, retrieved
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5615:
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5599:the original
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5584:
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5408:the original
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5269:ECR II- 1733
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4671:Policonomics
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3869:
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3579:), Iceland (
3575:), Finland (
3569:Vinmonopolet
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3511:Donald Trump
3476:
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3395:The British
3394:
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3334:Philadelphia
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3289:counties of
3265:
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3146:J. P. Morgan
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3096:Standard Oil
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3077:
3064:
3052:
3050:
3030:
3026:Tang dynasty
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3000:
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2806:
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2793:
2790:
2780:market. The
2778:
2769:
2765:
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2648:
2645:
2626:Standard Oil
2610:
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2580:
2565:Please help
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2473:
2470:
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2076:
2073:
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2013:
2007:October 2021
2004:
1994:
1987:
1980:
1973:
1961:
1949:Please help
1944:verification
1941:
1917:
1913:
1910:Market power
1809:Lerner index
1806:
1788:
1784:
1780:
1777:
1533:
1316:
1311:Supply curve
1310:
1304:
1192:
1186:
1180:
1174:
1168:
1160:
1154:
1148:
1131:
1125:
1117:
1108:Manipulation
1107:
1101:
1095:
1085:
1079:
1069:
1063:
1053:
1047:
1037:
1029:
1023:
998:Lerner index
994:Market power
992:
980:
974:
968:
962:
952:
947:
932:
926:October 2021
923:
913:
906:
899:
892:
880:
868:Please help
863:verification
860:
832:
828:
805:
791:
785:
769:
761:
746:
740:October 2021
737:
727:
720:
713:
706:
694:
682:Please help
677:verification
674:
643:
614:
599:
595:market power
588:
578:
574:
570:
487:
485:
448:
438:
433:
428:
360:Rent-seeking
273:Price fixing
224:Market power
187:
150:
149:
134:
128:January 2022
125:
115:
108:
101:
94:
82:
70:Please help
65:verification
62:
8472:Game theory
8437:Development
8384:Uncertainty
8264:Price floor
8244:Preferences
8183:Competition
8153:Information
8116:Externality
8099:Equilibrium
8040:Transaction
8018:Opportunity
7979:Aggregation
7680:(1835–1840)
7560:(c. 350 BC)
7550:(c. 375 BC)
7167:Tocqueville
7132:Saint-Simon
7097:Montesquieu
6948:Bolingbroke
6880:Machiavelli
6760:Ibn Khaldun
6725:Alpharabius
6718:Middle Ages
6543:Natural law
6518:Common good
6443:Nationalism
6403:Imperialism
6373:Corporatism
6348:Colonialism
6328:Agrarianism
6307:Technocracy
6287:Meritocracy
6267:Bureaucracy
6257:Aristocracy
5979:David Dayen
5879:Time Warner
5545:J.P. Morgan
5348:Epstein, I.
5329:Aristotle.
5312:Aristotle.
5227:ECR I −3359
4526:Png (1999).
3587:), Quebec (
3571:), Sweden (
3567:of Norway (
3503:Doug Flutie
3499:Mike Rozier
3413:Balochistan
3401:East Indies
3367:Long Island
3219:natural gas
3215:electricity
2630:Bell System
1102:Advertising
963:Price maker
780:fixed costs
569:. The verb
543:competition
283:Bid rigging
8621:1 (number)
8605:Categories
8502:Managerial
8422:Behavioral
8295:Production
8232:Oligopsony
8072:Elasticity
7984:Budget set
7888:Separatism
7696:On Liberty
7596:The Prince
7325:Huntington
6828:Campanella
6755:al-Ghazali
6704:Thucydides
6662:Lactantius
6607:Statolatry
6433:Monarchism
6413:Liberalism
6338:Capitalism
6321:Ideologies
6302:Plutocracy
6250:Government
6206:Revolution
6191:Propaganda
6141:Legitimacy
6116:Government
5988:The Nation
5627:11 October
5515:3 February
5352:The Talmud
5282:Adam Smith
5127:Case 6/72
5114:Case 6/72
5080:(7): 1955.
5050:6 November
5037:2007035070
3757:References
3425:indigo dye
3310:mass media
3293:, and the
3142:U.S. Steel
3127:ExxonMobil
2997:Salt March
2995:See also:
2972:μονοπώλιον
2516:trademarks
2508:regulation
1977:newspapers
1966:"Monopoly"
1074:substitute
1058:sunk costs
896:newspapers
885:"Monopoly"
776:sunk costs
710:newspapers
699:"Monopoly"
631:trademarks
627:copyrights
575:monopolize
571:monopolise
523:enterprise
479:Oligopsony
350:copyrights
229:SSNIP test
98:newspapers
87:"Monopoly"
18:Monopolies
8543:Economics
8415:Subfields
8310:Rationing
8227:Oligopoly
8222:Monopsony
8210:Bilateral
8143:Household
7994:Convexity
7606:Leviathan
7586:Monarchia
7580:(c. 1274)
7415:Oakeshott
7360:Mansfield
7355:Luxemburg
7340:Kropotkin
7235:Bernstein
7188:centuries
7102:Nietzsche
7045:Jefferson
6973:Condorcet
6921:centuries
6900:Pufendorf
6765:Marsilius
6652:Confucius
6637:Aristotle
6630:Antiquity
6558:Noble lie
6478:Third Way
6473:Socialism
6398:Feudalism
6353:Communism
6333:Anarchism
6312:Theocracy
6297:Oligarchy
6277:Democracy
6262:Autocracy
6176:Pluralism
6161:Obedience
6126:Hierarchy
6086:Authority
5729:3 January
5574:3 January
5541:Jay Gould
5045:21557400M
4677:18 August
3969:17 August
3956:0002-8282
3903:(3): 27.
3692:Monopsony
3528:Microsoft
3460:ruled in
3433:saltpetre
3235:telephone
3197:Utilities
3091:Petroleum
3084:Armenians
3057:Newcastle
2954:Aristotle
2686:talk page
2614:Antitrust
2583:June 2017
2554:does not
2520:copyright
2411:efficient
2188:∗
2161:∗
2134:∗
2043:copyright
1846:−
1825:−
1733:−
1721:−
1688:−
1656:−
1620:−
1580:−
1471:≥
1419:−
1375:−
1335:−
1229:⋅
824:oligopoly
646:naturally
602:naturally
535:oligopoly
527:monopsony
469:Monopsony
459:Oligopoly
262:Collusion
192:oligopoly
8590:Category
8536:See also
8427:Business
8399:Marginal
8394:Expected
8335:Shortage
8330:Scarcity
8205:Monopoly
8111:Exchange
8023:Implicit
8013:Marginal
7861:Centrism
7556:Politics
7546:Republic
7515:Voegelin
7495:Spengler
7480:Shariati
7455:Rothbard
7410:Nussbaum
7310:Habermas
7285:Fukuyama
7275:Foucault
7200:Ambedkar
7177:Voltaire
7147:de Staël
7122:Rousseau
7003:Franklin
6978:Constant
6938:Beccaria
6770:Muhammad
6750:Gelasius
6735:Averroes
6709:Xenophon
6689:Polybius
6642:Chanakya
6487:Concepts
6453:Populism
6423:Localism
6408:Islamism
6393:Feminism
6292:Monarchy
6196:Property
6186:Progress
6151:Monopoly
6121:Hegemony
6034:monopoly
6021:Monopoly
6009:Monopoly
5889:10 March
5859:10 March
5826:Archived
5688:Archived
5663:Archived
5605:6 August
5439:14501767
5404:13298305
5332:Politics
5315:Politics
5166:Archived
5099:Archived
4878:Archived
3914:27 April
3876:20 April
3618:See also
3607:purchase
3552:Monsanto
3452:Baseball
3291:New York
3173:De Beers
3168:Diamonds
3129:and the
3080:Armenian
2959:Politics
2680:You may
2097:marginal
2047:patented
2039:Ethiopia
1874:, where
488:monopoly
474:Duopsony
449:Monopoly
425:Quantity
188:Monopoly
43:Monopoli
8548:Applied
8527:Welfare
8389:Utility
8349:Surplus
8288:Pricing
8200:Duopoly
8193:Perfect
8136:Service
8104:General
8008:Average
7898:Statism
7811:Elitism
7769:Related
7570:(51 BC)
7500:Strauss
7475:Scruton
7470:Schmitt
7460:Russell
7380:Michels
7375:Maurras
7370:Marcuse
7330:Kautsky
7300:Gramsci
7295:Gentile
7265:Dworkin
7255:Du Bois
7250:Dmowski
7245:Chomsky
7240:Burnham
7225:Benoist
7195:Agamben
7162:Thoreau
7152:Stirner
7142:Spencer
7087:Mazzini
7077:Maistre
7072:Madison
7067:Le Play
6998:Fourier
6963:Carlyle
6943:Bentham
6933:Bastiat
6928:Bakunin
6905:Spinoza
6895:Müntzer
6865:Leibniz
6838:Grotius
6818:Bossuet
6785:Plethon
6730:Aquinas
6699:Sun Tzu
6667:Mencius
6657:Han Fei
6428:Marxism
6388:Fascism
6221:Society
6146:Liberty
6131:Justice
6111:Freedom
5660:IHT.com
5476:Hokudai
5350:(ed.).
5172:’ <
5131:ECR 215
5118:ECR 215
3964:1803928
3848:1856553
3544:of the
3356:Ireland
3306:Comcast
3287:Suffolk
3033:Gabelle
3007:famines
2978:of the
2575:removed
2560:sources
2512:patents
2493:de jure
2263:Example
2233:Red Sox
2055:framing
1991:scholar
1000:. High
987:elastic
910:scholar
802:market.
724:scholar
623:Patents
579:process
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539:duopoly
454:Duopoly
445:Sellers
268:cartels
112:scholar
8373:Supply
8364:Demand
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8168:Market
8030:Social
7760:(1992)
7750:(1971)
7740:(1951)
7730:(1945)
7720:(1944)
7710:(1929)
7700:(1859)
7690:(1848)
7670:(1820)
7660:(1791)
7650:(1790)
7640:(1762)
7630:(1748)
7620:(1689)
7610:(1651)
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7590:(1313)
7520:Walzer
7510:Taylor
7465:Sartre
7430:Popper
7425:Pareto
7420:Ortega
7405:Nozick
7395:Mouffe
7345:Laclau
7305:Guénon
7290:Gandhi
7230:Berlin
7220:Bauman
7215:Badiou
7205:Arendt
7172:Tucker
7062:Le Bon
7023:Herder
7013:Haller
7008:Godwin
6993:Fichte
6988:Engels
6983:Cortés
6953:Bonald
6910:Suárez
6885:Milton
6875:Luther
6848:Hobbes
6833:Filmer
6823:Calvin
6808:Boétie
6801:period
6780:Ockham
6647:Cicero
6448:Nazism
6236:Utopia
6211:Rights
6201:Regime
6171:People
6156:Nation
5970:
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5848:Forbes
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3267:Telkom
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3227:sewage
3209:for a
3011:Sahara
2980:Mishna
2948:Origin
2642:Sprint
2518:, and
2277:Price
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1986:
1979:
1972:
1964:
912:
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8121:Firms
7909:Index
7538:Works
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7450:Röpke
7445:Rawls
7400:Negri
7390:Mosca
7385:Mises
7350:Lenin
7320:Hoppe
7315:Hayek
7280:Fromm
7270:Evola
7260:Dugin
7157:Taine
7137:Smith
7117:Renan
7112:Paine
7033:Iqbal
7018:Hegel
6968:Comte
6958:Burke
6870:Locke
6860:James
6813:Bodin
6745:Dante
6740:Bruni
6694:Shang
6677:Plato
6231:State
6181:Power
6166:Peace
6101:Elite
6079:Terms
5723:(PDF)
5478:: 24.
5472:(PDF)
5400:S2CID
4556:(PDF)
3960:JSTOR
3866:(PDF)
3749:cost.
3726:Notes
3558:AAFES
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3318:cable
3223:water
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3108:trust
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717:books
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496:μόνος
492:Greek
304:tying
277:cases
119:JSTOR
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6890:More
6790:Wang
6672:Mozi
6096:Duty
5968:ISBN
5942:ISBN
5891:2008
5861:2008
5731:2014
5629:2011
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5576:2014
5551:ISBN
5517:2009
5435:OCLC
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5052:2018
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