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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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