What Is a Geographic Monopoly?


Geographic monopoly can be defined as a control of a particular commodity or services in a market that is located at a specific place. Geographic monopoly arises due to lack of other stakeholders who are willing to bring such services and control them.
Q&A Related to "What Is a Geographic Monopoly"
When a market's potential profit is so limited by its geographic location that only a single seller decides to enter the market. That type of market is a geographic monopoly. An example
In economics, a monopoly arises when a single firm is the sole provider in the market of a particular good or service. Often, the product or service in question has no close substitutes
The geographcal region of London, as I interpret the question, is London within the boundaries of Greater London. Greater London is made up of 33 local authorities (32 boroughs and
Monoply. is a right granted for one person or group to control buying or selling. In other words a Monoply is the complete control of a trade or business.
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