One of the Conclusions of the Model of Monopoly Is

question 154

Essay

One of the conclusions of the model of monopoly is that the firm earns economic profits above the required opportunity cost of the factors of production.Are these profits lost to society? Do they take spending power from the economy, and act as a brake on economic growth?

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Definitions:

Transnational Company

A transnational company operates on a global scale, owning or controlling production or service facilities in one or more countries other than its home country.

Global Commodity Chain

A global system of manufacturing and distribution channels that a product navigates before being acquired by the end user.

Marketer

A person or company responsible for promoting and selling products or services.

Globalization

Occurs as people become increasingly aware of, and dependent on, one another.