Why Monopoly Beats Competition — Always
Perfect Competition
Undifferentiated products
Price-takers not price-makers
Thin margins
No long-term profits
Firms lie about being different
Race to the bottom
✈️ Airlines industry
⚔️
Monopoly
Unique product or service
Sets its own prices
Fat margins
Long-term profits
Firms lie about being a monopoly
Power to do good
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