| 单词 | monopoly |
| 释义 | monopoly A market situation with only one seller. A natural monopoly exists when the monopolist's solo position is due either to the exclusive possession of some essential input, or to the existence of economies of scale so great that no entry by competitors is possible once an incumbent firm is established. A statutory monopoly exists when the entry of competitors is forbidden by law. Bilateral monopoly means that as well as there being only one seller, there is also only one buyer in a market. monopolistic competition is a situation with more than one seller, each able to fix a price, that is, each with some monopoly power. The Monopolies and Mergers Commission (MMC) was a UK body set up to oversee monopolies and mergers. The horizontal axis shows the quantity sold by a monopolist; the vertical axis shows cost and price. ABC shows the demand curve, and EFG shows the corresponding marginal revenue curve, MR; HIJ shows the average cost curve, and KFL shows the corresponding marginal cost curve, MC. Profits are maximized when output is set at OQ, to make MC = MR at F. This is sold at price OP. OPBQ is total revenue and ONIQ is total cost. NPBI is monopoly profit; while this is drawn positive here, there is no guarantee that a monopolist will be able to make positive profits. See also: bilateral monopoly, discriminating monopoly, natural monopoly, sheltered monopoly, and statutory monopoly |
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