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Monopoly

In: PRICE THEORY AND APPLICATIONS

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  • Steven E. Landsburg

Abstract

Is Microsoft a monopoly? Let’s start by asking what the word means. Etymology suggests (and popular usage affirms) that a “monopoly” is a single seller, the only firm in its industry. Well then, is Microsoft a single seller? Obviously, Microsoft is the only firm that sells Microsoft Word. Equally obviously, Microsoft is not the only firm that sells word processors. So whether Microsoft is a single seller depends on how narrowly you define the market…

Suggested Citation

  • Steven E. Landsburg, 2024. "Monopoly," World Scientific Book Chapters, in: PRICE THEORY AND APPLICATIONS, chapter 10, pages 387-438, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811263316_0010
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