Discuss the strategies and actions (either legal or illegal) a firm could employ to monopolize the market for a good or service. Explain why this would be so drawing on the concepts discussed in Chapter 9.
Discuss a best practice that would apply to a monopolist in any market. Explain why you support it as a best practice.
“Monopolistic Competition and Oligopoly”
Please respond to the following:
Discuss the single biggest competitive advantage a firm in such a market could have. Explain your rationale.
Discuss the likely economic outcome if all markets were oligopolistic. Provide specific examples to support your response.
