Abstract
A monopoly is held to exist where a firm is the sole supplier of a particular good or service. Such a firm therefore has no existing competitors, and is protected by barriers to entry (see pp. 71–82) from the encroachment into its markets of potential competitors.
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Notes and References
S. Aaronovitch and M. C. Sawyer, Lloyds Bank Review (Oct 1974).
Aaronovitch and Sawyer, Lloyds Bank Review (Oct 1974) p. 15.
Aaronovitch and Sawyer, Lloyds Bank Review (Oct 1974) p. 21.
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© 1976 P. J. Curwen
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Curwen, P.J. (1976). Monopoly. In: The Theory of the Firm. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-15645-0_4
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DOI: https://doi.org/10.1007/978-1-349-15645-0_4
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