187 Outcome: Introduction to Monopolies

What you’ll learn to do: define the characteristics of a monopoly

Businesses love the idea of a free-market economy, so why then, would a business want to become a monopolist? Just think…if a business can control the entire market for a product, then they eliminate competition and are almost guaranteed a profit. In this outcome, you’ll learn about what a monopoly is and why firms try to eliminate their competition.

LEARNING ACTIVITIES

The learning activities for this section include the following:

  • Reading: Introduction to Monopolies
  • Self Check: Introduction to Monopolies

Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.

License

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Microeconomics by Lumen Learning is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.

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