List and explain the causes of the monopoly market structure?
Answer:
Wow, I sure wish I had someone to do my economics homework. Must be a monopoly.
Don't worry. Someone will copy and paste the entire Wikipedia article on it so you won't have to look it up yourself.
The two main causes of monopoly are:
- government regulation that prevent anyone from competing; and
- declining average cost s- so that economies of scale mean that it would be more expensive for two firms to produce the desired amount of a good or service than for two or more (this is known as a 'natural monopoly').
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