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A government-granted monopoly or legal monopoly, by contrast, is sanctioned by the state, often to provide an incentive to invest in a risky venture or enrich a domestic interest group. Patents, copyrights, and trademarks are sometimes used as examples of government-granted monopolies.
In economics, a government-granted monopoly (also called a "de jure monopoly" or "regulated monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.
A state monopoly can be characterized by its commercial behavior not being effectively limited by the competitive pressures of private organisations. [1] [2] This occurs when its business activities exert an extensive influence within the market, can act autonomously of any competitors, and potential competitors are unable to successfully compete with it.
For example, Mallinckrodt Incorporated is the only legal supplier of cocaine in the United States. The regulation of gambling in many places includes an official monopoly national lottery or state lottery. Where private operation is allowed, for example in horse racing, off-track betting and casinos, the authorities may license only one operator.
A natural monopoly is a monopoly in an industry in which high infrastructural costs and other barriers to entry relative to the size of the market give the largest supplier in an industry, often the first supplier in a market, an overwhelming advantage over potential competitors. Specifically, an industry is a natural monopoly if the total cost ...
Let's look at Mr. Monopoly, mascot of the famous board game. If you think of a rich man from the early 1900s, you might envision him with a monocle or pocket watch even though Mr. Monopoly has ...
Examples of monopoly rent include: rents associated from legally enforced knowledge monopolies derived from intellectual property like patents or copyrights; rents associated with 'de facto' monopolies of companies like Microsoft and Intel who control the underlying standards in an industry or product line (e.g. Microsoft Office); rents ...
Monopoly: Boise Edition can be purchased at local and online retailers, including CVS, Top Trumps and Amazon, for $44.99. Mr. Monopoly presents MONOPOLY: Boise Edition at Beside Bardenay on Oct. 27.