Company that knows how to lead, a company that knows how to crush the opposition, and a company that a majority abide by.
Economies Scale=Knowing how to expand to reduce costs and make more profit
Get Lazy, Inefficient – shown on graph, the bottom of the AC curve is most efficient place, when graphed, it does not hit the AC curve, it is slightly to the left.
1. Titans<br />
2. Monopoly<br />One or occasionally a few firms dominate the market. Some industries are natural monopolies, such as water supply and basic power generation.<br />
3. Topics to be discussed<br />The Nature of a Monopoly<br />Our Strengths (We have many)<br />Our weaknesses (what weaknesses?)<br />Our methods of determining costs, profits, and revenues.<br />The impact we have on an Economy<br />
4. Nature of a Monopoly<br />Only company in a Market.<br />Builds numerous (expand) Barriers of Entry to keep monopoly status.<br />Sells unique ideas<br />Specialized methods of execution are not shared<br />
5. Strengths<br />WE know how to stay on top<br />Understand how to eliminate opposition<br />Know how to expand<br />Dominance over natural resources<br />Economies of scale = Successful<br />Capital Requirements<br />Superiority in Technology<br />
6. Weaknesses<br />Diseconomies of scale is experienced after a time being a monopoly<br />Get Lazy<br />Inefficient as shown on the graph<br />
7. Impact on the Economy<br />Discourage entry of new firms<br />Control the market price<br />Control the market supply<br />Limits available choices in market<br />