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Monopoly Cottbus Bejelentkezés VideoHow To Play Monopoly - Full Tutorial
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Patents provide a legal monopoly to a Company albeit for a short period of time. During the time the patent is in force no other Company can use its invention for its own purposes.
A casino in Genting Highlands, Malaysia held an exclusive patent for legalized casino and it enjoyed the legal monopoly for years in Malaysia.
Due to its monopolistic activities for service as essentials telecommunication, the Company was forced to split into six subsidiaries called Baby Bells.
In a monopolistic competitive industry, barriers to entry and exit are typically low, and companies try to differentiate themselves through price cuts and marketing efforts.
However, since the products offered are so similar between the different competitors, it's difficult for consumers to tell which product is better.
Some examples of monopolistic competition include retail stores, restaurants, and hair salons. Also, natural monopolies can arise in industries that require unique raw materials, technology, or it's a specialized industry where only one company can meet the needs.
Pharmaceutical or drug companies are often allowed patents and a natural monopoly to promote innovation and research.
There are also public monopolies set up by governments to provide essential services and goods, such as the U.
Usually, there is only one major private company supplying energy or water in a region or municipality. The monopoly is allowed because these suppliers incur large costs in producing power or water and providing these essentials to each local household and business, and it is considered more efficient for there to be a sole provider of these services.
Imagine what a neighborhood would look like if there were more than one electric company serving an area. The streets would be overrun with utility poles and electrical wires as the different companies compete to sign up customers, hooking up their power lines to houses.
It is the market structure that is characterized by the single seller who sells his unique product in the market and becomes the large enough for owning all the market resources for the particular type of goods or service.
For controlling and discouraging the operations of the monopoly, different antitrust laws are put in the place. These antitrust laws help in prohibiting the practice of restraining the trade and allowing free trade and competition in the market, thus protecting the consumers.
Thus the above-mentioned examples are some of the examples of monopoly in the different industries. There are various other examples as well which shows that a monopoly exists in various different markets or areas.
This has been a guide to Monopoly Example. Win or lose, the game allows you to take and display photos at key moments for an amplified social gaming experience.
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