Business: Monopolies, Oligopolies, Duopoly, Tripoly
MONOPOLY In a monopoly industry there is only one seller and many buyers. Since it is the only company in the industry, it has the ability to exercise considerable control over price. Monopoly derives from Greek: “monos” (alone) and “polein” (to sell) There are several types: 1. Vertical: This occurs when a company controls not…