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 ?
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.
In the developing world, on the other hand, most mobile service providers enjoy pure monopoly status.
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.
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.
Models that have shown this conjunction have assumed that the upstream industry (at least) is a pure monopoly [4; 8], which is a highly restrictive concept of noncompetitive behavior, because it is empirically rare.
This is because entry by copycat firms induces some competition in the industry and keeps price closer to marginal cost than would be the case under pure monopoly.
In the pure monopoly model, integration "broadens the monopoly" only because input substitutability affects the elasticity of the derived demand for the intermediate good relative to the elasticity of the final demand.