20. How is a monopoly (or oligopoly for that matter) able to remain that way? Okay, let's say a company has no competitors today. But won't it start having some competitors tomorrow? Explain at least one reason why a monopoly or oligopoly could be long-lasting (e.g. why other firms may not wish to enter a monopolist's market and "start a fight" with a monopolist).

20. How is a monopoly (or oligopoly for that matter) able to remain that way? Okay, let's say a company has no competitors today. But won't it start having some competitors tomorrow? Explain at least one reason why a monopoly or oligopoly could be long-lasting (e.g. why other firms may not wish to enter a monopolist's market and "start a fight" with a monopolist).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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