Teaching PowerPoints
3.4.5 Monopoly Power (Edexcel A-Level Economics Teaching PowerPoint)
- Level:
- A-Level
- Board:
- Edexcel
Last updated 13 Sept 2023
This editable and downloadable powerpoint covers the economics of monopoly power in markets.
Monopoly power in a market basically means that a single firm has such a strong presence that it dominates the entire market. Here are some characteristics of a monopoly power:
- The firm has a very large market share, often over 25-40%.
- There are significant barriers to entry for new firms, like high startup costs or exclusive patents.
- The firm can set prices without worrying about competitors undercutting them.
- Consumers have limited options, and switching to another product isn’t easy or even possible.
- The firm can maintain its dominance over a long period of time.
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