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Economic theory suggests that monopoly will increase price and decrease quantity. However, from 1864 to 1914, real prices were falling and output was increasing in manufactured goods, transportation, and financial services. Why is that?
Explain:
3) Few firms managed to maintain monopoly power
Explain:
3) Few firms managed to maintain monopoly power
short-run monopoly power usually didn't last because of competing firms entering the market from a low cost of entry
Karteninfo:
Autor: savhighsmith
Oberthema: Economics
Thema: History of Economics
Schule / Uni: UGA
Ort: Athens
Veröffentlicht: 12.10.2010