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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.
It is a monopoly created, owned, and operated by the government. It is usually distinguished from a government-granted monopoly, where the government grants a monopoly to a private individual or company. A government monopoly may be run by any level of government—national, regional, local; for levels below the national, it is a local monopoly.
A monopoly has considerable although not unlimited market power. A monopoly has the power to set prices or quantities although not both. [37] A monopoly is a price maker. [38] The monopoly is the market [39] and prices are set by the monopolist based on their circumstances and not the interaction of demand and supply. The two primary factors ...
One of the government's few anti-monopoly victories was United States v. AT&T , which led to the breakup of Bell Telephone and its monopoly on U.S. telephone service in 1982. [ 30 ] The general "trimming back" of antitrust law in the face of economic analysis also resulted in more permissive standards for mergers. [ 30 ]
The Justice Department sued Ticketmaster and its parent company Thursday, accusing them of running an illegal monopoly over live events in America and asking a court to break up the system that ...
"Monopolies don't work and government-funded monopolies are even worse," says Jennifer Erickson, a former Obama White House staffer who now works as a senior fellow at the Federation of American ...
A legal monopoly, statutory monopoly, or de jure monopoly is a monopoly that is protected by law from competition. A statutory monopoly may take the form of a government monopoly where the state owns the particular means of production or government-granted monopoly where a private interest is protected from competition such as being granted exclusive rights to offer a particular service in a ...
The Senate approved a slimmed-down, temporary government spending plan early Saturday morning, averting a shutdown of the federal government. The legislation now goes to President Joe Biden for ...