College Papers

I think this is an inaccurate statement since consumers have the choice not to purchase a monopolies product which some monopiles think there is a great demand for

I think this is an inaccurate statement since consumers have the choice not to purchase a monopolies product which some monopiles think there is a great demand for. Monopiles tend to think they can control the market due to lack of competition selling the products of other monopoly firms. The best price that is stable due to having borderline profits are the same as marginal cost which is the same way as competitive structures. Borderline profits that are persistent because of the demand curve in the market are the best ones. The competition of a monopolist is rare if they have any at all because of the prices they set, also the monopoly firm price is not guaranteed (Rittenberg, 2012, p 263).