Chapter 23 - Monopoly

1		A monopoly is an industry with seller.
2		An monopoly faces the entire schedule of an industry.
3		In order to sell additional units, the monopolist must lower .
4		Local gas and electric companies, the local phone company, and local cable TV companies are all examples of monopolies. Large firms are able to lower their ATC by taking advantage of .
5		A monopoly can provide cheaper service than could several competing firms.