A pure monopoly exists when a single firm is the sole producer of a product with no close substitutes. A pure monopolist faces a downward-sloping demand curve and is a price maker. It controls total supply and has influence over price. Entry into the industry is blocked. A pure monopolist maximizes profits by producing at the quantity where marginal revenue equals marginal cost and setting the price on the demand curve corresponding to that quantity of output. This generally results in a smaller quantity and higher price than under perfect competition.
Monopoly is a pivotal area to the study of market structures, which directly concerns normative aspects of economic competition, and sets the foundations for fields such as industrial organization and economics of regulation. There are four basic types of market structures under traditional economic analysis: perfect competition, monopolistic competition, oligopoly and monopoly...
Monopoly is a pivotal area to the study of market structures, which directly concerns normative aspects of economic competition, and sets the foundations for fields such as industrial organization and economics of regulation. There are four basic types of market structures under traditional economic analysis: perfect competition, monopolistic competition, oligopoly and monopoly...
Imperfect competition is an economic concept used to describe marketplace conditions that render a market less than perfectly competitive, creating market inefficiencies that result in losses of economic value.
In the real world, markets are nearly always in a condition of imperfect competition to some extent. However, the term is typically only used to describe markets where the level of competition among sellers is substantially below ideal conditions.A situation of imperfect competition exists whenever one of the fundamental characteristics of perfect competition is missing. When there is perfect competition in a market, prices are controlled primarily by the ordinary economic factors of supply and demand.
Notably, the stock market may be viewed as a continually imperfect market because not all investors have ready access to the same level of information regarding potential investments.
Imperfect competition commonly exists when a market structure is in the form of monopolies, duopolies, oligopolies, or monopsony (very rare)
Market structures that effectively render competition imperfect are most often characterized by a lack of competitive suppliers. Imperfect competition often exists as a result of extremely high barriers to entry for new suppliers. For example, the airline industry has high barriers to entry due to the extremely high cost of aircraft.
The most extreme condition of imperfect competition exists when the market for a particular good or service is a monopoly, one in which there is a sole supplier. A supplier that has a monopoly on the provision of a good or service essentially has complete control over prices.
Because it has no competition from other suppliers, the sole supplier can essentially set the price of its goods or services at any level it desires. Monopolies often charge prices that provide them with significantly higher profit margins than most companies operate with.
A duopoly is a market structure in which there are only two suppliers. Although duopolies are somewhat more competitive than monopolies, the level of competition is still far from perfect, as the two suppliers still have significant control of marketplace prices.
An example of a duopoly exists in the United Kingdom’s detergent market, where Procter & Gamble (NYSE: PG) and Unilever (NYSE: UL) are virtually the only suppliers. The two suppliers in a duopoly often collude in price setting.
Oligopolies are much more common than either monopolies or duopolies. In an oligopoly, there are several – but a small, limited number – of suppliers. The market for cell phone service in the United States is an example of an oligopoly, as it is essentially controlled by just a handful of suppliers. The small number of suppliers, which limits buying choices for consumers, provides the suppliers with substantial, although not complete, control over pricing.
A rare form of imperfect competition is monopsony. A monopsony is a single buyer, rather than any supplier.
Monopoly - Profit-Maximization in Monopoly - EconomicsFaHaD .H. NooR
Monopoly Economics
A monopoly (from Greek μόνος mónos ["alone" or "single"] and πωλεῖν pōleîn ["to sell"]) exists when a specific person or enterprise is the only supplier of a particular commodity. This contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly which consists of a few sellers dominating a market).[2] Monopolies are thus characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit.[3] The verb monopolise or monopolize refers to the process 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 overly high prices.[4] 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).[4]
A monopoly is distinguished from a monopsony, in which there is only one buyer of a product or service; a monopoly may also have monopsony control of a sector of a market. Likewise, a monopoly should be distinguished from a cartel (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 market power and therefore interact with their customers (monopoly or oligopoly), or suppliers (monopsony) in ways that distort the market.[citation needed]
Monopolies can be established by a government, form naturally, or form by integration.
In many jurisdictions, competition laws restrict monopolies. 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 government-granted monopoly or legal monopoly, by contrast, is sanctioned by the state, often to provide an incentive to invest in a risky venture or enrich a domestic interest group. Patents, copyrights, and trademarks are sometimes used as examples of government-granted monopolies. The government may also reserve the venture for itself, thus forming a government monopoly
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Which Crypto to Buy Today for Short-Term in May-June 2024.pdf
pure monopoly
1. Pure Monopoly
1. An Introduction to Pure Monopoly.
2. Marginal revenue and elasticity.
3. Price and output decision.
4. Single-price Monopoly and
Competition Compared.
3. Pure monopoly exists when a single firm is the sole producer
of a product for which there are no close substitutes.
Here are the main characteristics of pure monopoly:
A pure, or absolute, monopoly is an industry in which a
single firm is the sole producer of a specific good or the
sole supplier of a service.
Single seller
A pure monopoly’s product is unique in that there are
no close substitutes. The consumer who chooses not
to buy the monopolized product must do without it.
No close
substitutes
The pure monopolist controls the total quantity
supplied and thus has considerable control over price.Price maker
A pure monopolist has no immediate competitors
because certain barriers keep potential competitors
from entering the industry. Those barriers may be
economic, technological, legal, or of some other type.
But entry is totally blocked in pure monopoly.
Blocked
entry
4. Monopoly Versus CompetitionMonopoly Versus Competition
Because competitive firms are price takers, they in
effect face horizontal demand curves, as in panel (a).
Because a monopoly firm is the sole producer in its
market, it faces the downward-sloping market demand
curve, as in panel (b). As a result, the monopoly has to
accept a lower price if it wants to sell more output.
A competitive firms demand curves A monopolist’s demand curves
5. An industry is a natural monopoly when a single firm
can supply a good or service to an entire market at a
smaller cost than could two or more firms.
A natural monopoly arises when there are economies
of scale over the relevant range of output.
Natural MonopoliesNatural Monopolies
6. Because a natural monopoly has declining average total cost,
marginal cost is less than average total cost.
Therefore, if regulators require a natural monopoly to charge a
price equal to marginal cost, price will be below average total
cost, and the monopoly will lose money.
Marginal-cost Pricing for a Natural MonopolyMarginal-cost Pricing for a Natural Monopoly
8. (a) Because it must lower price on all
units sold in order to increase its sales,
an imperfectly competitive firm’s
marginal-revenue curve (MR) lies below
its downsloping demand curve ( D ).
The elastic and inelastic regions of
demand are highlighted.
(b) Total revenue (TR) increases at a
decreasing rate, reaches a maximum,
and then declines. Note that in the
elastic region, TR is increasing and
hence MR is positive. When TR reaches
its maximum, MR is zero. In the inelastic
region of demand, TR is declining, so
MR is negative.
Demand, Marginal Revenue, and Total RevenueDemand, Marginal Revenue, and Total Revenue
for a Pure Monopolistfor a Pure Monopolist
10. A monopoly maximizes profit by choosing the quantity
at which marginal revenue equals marginal cost
(point A). It then uses the demand curve to find the
price that will induce consumers to buy that quantity
(point B).
Profit Maximization for aProfit Maximization for a MonopolyMonopoly
11. In part (b), The pure monopolist
maximizes profit by producing at the
MR=MC output, here Qm=3 units. Then,
as seen from the demand curve, it will
charge price Pm=$14. Average total cost
will be ATC(Qm)= $10, meaning that per
unit profit is Pm-ATC(Qm) and total profit
is 3×(Pm-ATC(Qm)). Total economic
profit is thus represented by the light
blue rectangle.
Profit Maximization by a Pure MonopolistProfit Maximization by a Pure Monopolist
In part (a), economic profit is the
vertical distance equal to total revenue
(TR) minus total cost (TC) and it is
maximised at 3 units.
12. AA Monopoly’s ProfitMonopoly’s Profit
How much profit does the monopoly make?
To see the monopoly’s profit, recall that profit equals
total revenue (TR) minus total costs (TC):
Profit = TR - TC
We can rewrite this as
Profit (TR/Q - TC/Q) × Q
TR/Q is average revenue, which equals the price P, and
TC/Q is average total cost ATC. Therefore,
Profit = (P - ATC) × Q
13. If demand D is weak and costs are high, the pure
monopolist may be unable to make a profit. Because Pm
exceeds V, the average variable cost at the MR=MC
output Qm, the monopolist will minimize losses in the
short run by producing at that output. The loss per unit is
A-Pm, and the total loss is indicated by the red rectangle.
The Loss-minimizing Position of a Pure MonopolistThe Loss-minimizing Position of a Pure Monopolist
14. Steps for Graphically Determining the Profit-Steps for Graphically Determining the Profit-
Maximizing Output, Profit-Maximizing Price, andMaximizing Output, Profit-Maximizing Price, and
Economic Profit (if Any) in Pure MonopolyEconomic Profit (if Any) in Pure Monopoly
Step 1. Determine the profit-maximizing output by finding where MR=MC.
Step 2. Determine the profit-maximizing price by extending a vertical line
upward from the output determined in step 1 to the pure monopolist’s
demand curve.
Step 3. Determine the pure monopolist’s economic profit using one of two
methods:
Method 1. Find profit per unit by subtracting the average total cost of the
profit-maximizing output from the profit-maximizing price. Then multiply the
difference by the profit-maximizing output to determine economic profit (if
any).
Method 2. Find total cost by multiplying the average total cost of the profit-
maximizing output by that output. Find total revenue by multiplying the
profit-maximizing output by the profit-maximizing price. Then subtract total
cost from total revenue to determine economic profit (if any).
15. Panel (b) shows a monopolist
that can perfectly price
discriminate. Because consumer
surplus equals zero, total surplus
now equals the firm’s profit.
WELFARE WITH AND WITHOUT PRICE DISCRIMINATION
Panel (a) shows a monopolist that
charges the same price to all customers.
Total surplus in this market equals the
sum of profit (producer surplus) and
consumer surplus.
Comparing these two panels, you can see that perfect price discrimination
raises profit, raises total surplus, and lowers consumer surplus.
17. A competitive industry produces the quantity Gc at price Pc.
A single-price monopoly produces the quantity Qm at which
marginal revenue equals marginal cost and sells that
quantity for the price Pm. Compared to perfect competition, a
single-price monopoly restricts output and raises the price.
Monopoly's Smaller Output and Higher PriceMonopoly's Smaller Output and Higher Price
Compared to a perfectly
competitive industry, a
single-price monopoly
restricts its output and
charges a higher price.
18. When a patent gives a firm a monopoly over the sale of a
drug, the firm charges the monopoly price, which is well
above the marginal cost of making the drug. When the
patent on a drug runs out, new firms enter the market,
making it more competitive. As a result, the price falls
from the monopoly price to marginal cost.
The Market for Drugs.
19. Reasons for
imperfect
competition
(1) economies of scale
economies of scale means that the
average cost goes down as the level
of output increases;
substantial degree of the economies
of scale;
a single firm comes to monopolize
the whole market → natural
monopoly.
Imperfectly Competitive Market
20. (2) government policies
provision of patent rights to boost
invention;
provision of monopoly rights.
(3) competitive strategies
aggressive advertisements;
differentiated products;
predatory pricing;
lowering price temporarily to drive out
the competitors from the market.
Reasons for
imperfect
competition
Imperfectly Competitive Market
21. A monopoly is a firm that is the sole seller in its
market.
It faces a downward-sloping demand curve for its
product.
A monopoly’s marginal revenue is always below the
price of its good.
Like a competitive firm, a monopoly maximizes profit
by producing the quantity at which marginal cost and
marginal revenue are equal.
Unlike a competitive firm, its price exceeds its
marginal revenue, so its price exceeds marginal cost.
A monopolist’s profit-maximizing level of output is
below the level that maximizes the sum of consumer
and producer surplus.
SummarySummary
22. A monopoly causes deadweight losses similar to the
deadweight losses caused by taxes.
Policymakers can respond to the inefficiencies of
monopoly behavior with antitrust laws, regulation of
prices, or by turning the monopoly into a government-
run enterprise.
If the market failure is deemed small, policymakers
may decide to do nothing at all.
Monopolists can raise their profits by charging
different prices to different buyers based on their
willingness to pay.
SummarySummary