Answered

Welcome to Westonci.ca, the place where your questions find answers from a community of knowledgeable experts. Find reliable answers to your questions from a wide community of knowledgeable experts on our user-friendly Q&A platform. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

When is a firm a monopoly, or are monopolies only theoretical concepts that do not exist?

Sagot :

A firm is a monopoly when there is one producer or a manufacturer who produces products or services which has no substitute or competition in the market and customer buy that specific products or services from that manufacturer only. Sometimes monopoly companies has competitors and substitutes but they don't effect the company's profit at all.

Microsoft, Fac-ebook and Go-ogle are real life examples of monopoly. They enjoy monopoly in their respective goods or services which has little competition that does not effect their profits and market stability. Like these three there are many monopolies in the market which shows monopolies are not theoretical concept and they even exist.

Read more about profits on brainly:-

https://brainly.com/question/15036999

#SPJ4

Thank you for visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.