Monopolies

What is the purpose of the following act?

What act do you suppose it is?

Why would the government pass such a law?

Who would dislike or oppose this law?

What kind of monopoly does the granting of patents encourage?

• Natural Monopoly

• Technological Monopoly

• Government Monopoly

• Mr. Wonderful's Monopoly

What kind of monopoly often provides public goods?

• Natural Monopoly

• Geographic Monopoly

• Government Monopoly

• Technological Monopoly

Which scenario is an example of a monopoly? 

• A local water company is the sole provider of water for a small town.

• A dry cleaner specializes in environmentally friendly cleaning methods.  

• A farmer produces green beans for sale at a farmer's market.

• A small number of cereal companies produce most of the cereal on the market.

In the 1990s, AT&T controlled 80% of the phone industry and was the ONLY provider of long distance phone service. This is an example of

• A monopoly

• Monopolistic Competition

• Perfect Competition

• Oligopoly

Public Water is and example of......

• Oligarch Monopoly

• Geographic Monopoly

• Natural Monopoly

• Technological Monopoly

a market that runs most efficiently when one large firm provides all of the output

• natural monopoly

• patent

• license

• price discrimination