Monopoly Assignment Help

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An Introduction to Monopoly

Monopoly is referred to that specific market situation in which a single seller enjoys the major market share with multiple buyers. Since the seller has the power to sells the commodities at the varying price, each firm gets an opportunity to read more and more profits that surpasses the limit of normal profit.  Read more about Monopolies through our Monopoly assignment help Service.

What are the Features Discussed in Monopoly

As discussed above, monopoly is a condition in which a company acts as sole seller of a commodity and enjoys a firm hold in the market by selling goods that can be tagged with varied price limits. To explain this concept further, below listed are certain attributes that better explain the features of this kind of market. These are:

  • Single seller with multiple buyers – In this kind of market, there exists one seller with numerous buyers. This kind of market is basically aims to render necessary services.
  • Restrictions imposed on both the situation of entry and exit of firms – In this market, some of the restrictions are imposed on entry and exit of new as well as existing firms.
  • Demand curve – Such market has inelastic demand curve which is <1 owing to nil competition.
  • Price differentiation – In this kind of market, some of the firms offer product at varying prices to numerous buyers as per the stated requirements.
  • The firms are both the price takers and maker – Both the firm and industry hold the differentiated meaning. Which is why these companies are both price takers as well as price makers.
  • High end profit – Each firm has the opportunity to earn more than normal profit since consumers have limited choice to buy a commodity.
  • No market knowledge – In such market type, both the buyers and sellers have least knowledge about the changing market conditions.
  • No selling and transportation costs – Owing to less competition, it has no less selling or transportation costs.
  • Low mobility of factors – There are many factors which are not easily movable or available that proves less mobility of factors

Core Advantages Studied and Discussed in Monopoly Assignment Writing Service

Monopoly lets the buyers and sellers enjoy a range of benefits that are included in Our Monopoly assignment writing service:

  • Since price is set higher, generating additional profits is much easier and feasible
  • The possibility of innovating the products is better and much higher
  • The field has better research and development scope
  • Sellers are free from the risk of additional production as compared to the demand
  • Amount of capital is higher that can be invested in research
  • Buyers have the option of controlling natural sources for the production of goods

Types of Monopoly

  • Natural Monopoly – In such kind of monopoly, a firm reaps increasing return to scales. Such monopoly categorises and showcases downward trend for commodities with respect to average cost of the product.
  • Government Monopoly – Such type of monopoly provides the firm with the pleasure to the enjoy a powerful market position. This is due to the fact that only that company or brand has the sole of providing a particular product in the market. The regulations stated by the government prohibits other competitors to enter the market.
  • Technological Monopoly – This kind of monopoly happens when a product offered by a company is in the shape of copyright and patent.
  • Geographic monopoly – As the name indicates, such kind of monopoly is ragged to a state wherein only a single company offers the required variety or range of product or services within a specific area.

Apart from the above-listed types, other types of monopolies are Absolute Monopoly, Legal Monopoly, Imperfect Monopoly, Single Monopoly, and Discriminative Monopoly. Students are required to study and handle homework and assignments on each of these monopoly types for which BookMyEssay renders professional writing services.

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