Question
Discuss the political and the economic concepts of monopoly. What does each say constitutes a monopoly? It was said that the economic concept leads to confusion over which firms are monopolies. Why is this so? Why is there no confusion over who is a monopoly based on the political concept? According to the political concept, do patents, copyrights, and trademarks creates monopolies? Why or why not? According to the political concept, can many small companies that provide the same product have a monopoly? Why or why not? According to the political concept, does Microsoft have a monopoly? Why or why not?
