Monopolies are quite common in business. If you offer a product or service that no one else has, then you possess a monopoly. In time, competitors probably will aim to match or improve upon your ...
Journal of Political Economy, Vol. 96, No. 1 (Feb., 1988), pp. 164-176 (13 pages) The paper presents a simple explanation of price dispersion by a monopolist assuming only that consumers arrive in a ...
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