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    Osamwonyi's Avatar
    Osamwonyi Posts: 1, Reputation: 1
    New Member

    Jan 19, 2009, 02:21 AM
    What is monopoly?
    What is monopoly?
    Clough's Avatar
    Clough Posts: 26,677, Reputation: 1649
    Uber Member

    Jan 19, 2009, 02:31 AM

    Hi, Osamwonyi!

    Please click on the following search.

    Monopoly Definition - Google Search

    If you're asking about it as it might be concerning a particular situation, it would be helpful to know about that.

    nikki236's Avatar
    nikki236 Posts: 3, Reputation: 1
    New Member

    Mar 9, 2009, 10:08 AM

    Monopoly is a market structure in which there is a single seller, thr r no close substitute for da commodity it produces and there r no barriers to entry.
    XOXOlove's Avatar
    XOXOlove Posts: 830, Reputation: 131
    Senior Member

    Mar 9, 2009, 10:34 AM
    A monopoly is created when a company is so successful that it eliminates competition with other similar companies. For example if I were to have a business in selling bottles and you did too and if I only sold a bottle for 10 cents while you sold yours for $1 and every time you decided to lower your cost, I would lower mine even more, people would buy my bottles and not yours. So I would be a monoply because I would lower my price down very low and drive other people out of business by doing so. My sister said that monopolies are illegal because they lower costs so much that there can't be competition.

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