Monopoly

Ashley Hay
Mind Map by Ashley Hay, updated more than 1 year ago
Ashley Hay
Created by Ashley Hay about 4 years ago
115
1

Description

Advanced placement Microeconomics (Imperfect Competition ) Mind Map on Monopoly, created by Ashley Hay on 03/17/2016.

Resource summary

Monopoly
1 barriers to entry
1.1 patents
1.2 economies of scale
1.3 size of market
1.4 exclusive ownership of raw material
1.5 large capital investment required
1.6 govt actions (tariffs, licences, etc)
2 no close substitutes
3 great deal of influence
3.1 "price searchers"
4 one seller
5 controls info in market
6 ex: small town store, garbage collection, concession stands
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