Why Do Monopolies Exist
{"Image DocumentName": "Why Do Monopolies Exist?", "Image ImageDescription": "A monopolist has market power and as a result will charge higher prices and produce less output than a competitive industry. This generates profit for the monopolist in the short run and long run. Profits will not persist in the long run unless there is a barrier to entry. This can take the form of. control of natural resources or inputs, economies of scale, technological superiority, or. legal restrictions imposed by governments, including patents and copyrights.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}