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Positional cloning
Nondiscriminating Monopolist
A monopolist that charges the same price to all customers, as opposed to engaging in price discrimination where different prices are charged to different customers.
Natural Monopoly
A market condition where due to high fixed or startup costs, a single firm can supply a good or service to an entire market at a lower cost than multiple companies.
Network Effects
Increases in the value of a product to each user, including existing users, as the total number of users rises.
Price Discrimination
The strategy of selling the same product to different customers at different prices based on willingness to pay, rather than differences in production costs.
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