Pure monopoly

Pure monopoly

A market in which only one firm has total control over the entire market for a product due to some sort of barrier to entry for other firms, often a patent held by the controlling firm.

Pure Monopoly

A company that has total control of a given market. Most of the time, a pure monopoly exists in a situation in which a company has a patent or uses some technology that is popular with consumers, but is protected from use by another company, at least for limited period of time. See also: Duopoly, Antitrust.
References in periodicals archive ?
If endowed with a pure monopoly, how might one change the cost of something, be it widgets or U.
This includes the economics of perfect competition, pure monopoly, and a dominant firm with a fringe of competitors, as well as the classic 1934 index of monopoly power devised by Abba Lerner.
The main achievement of Cournot's theory is the possibility to apply the same principle to different degrees of competition, starting by the pure monopoly case.
All around the world water privatisation has failed to generate investment because water is a pure monopoly.
However, my point is that the net impact of even a pure monopoly cannot be judged and should not be judged the way it almost always is judged in our lectures and textbooks--that is, exclusively by its impact within the limits of its own market boundaries.
In a pure monopoly, there is only one seller in a market.
This section considers several models of imperfect competition, beginning with the case of pure monopoly.
In the terms of figure 3, consider the change from pure monopoly (point X) to limit pricing (at point Y).
Not even hard-line Chicagoans had been willing to declare pure monopoly to be virtuous, rather than probably harmful.
When and if the Baby Bells are freed to enter cable TV in their areas of regional telephone monopoly, the cable business will cease to be one of pure monopoly as we have today.
For the Herfindahl index a value of one indicates pure monopoly structure in an industry.
Hence, texts suggest that price discrimination is a pure monopoly phenomenon, then proceed to provide examples in which monopoly is dubious at best and ludicrous at worst.