When this type of pricing sets the lower limit, or floor, for a price a carrier is willing to offer to get freight to get a vehicle back to its origin it is called a monopolistic market.
What is the monopolistic market?
- It is a theoretical condition that describes a market in which only one firm can offer its products or services to the public.
- A monopoly market is the opposite of a perfectly competitive market in which an infinite number of firms operate
- . In a pure monopoly model, a monopoly can limit production, raise prices, and generate above-average profits over the long term.
- A monopoly market is a market structure with the characteristics of a pure monopoly.
- A monopoly occurs when a supplier offers a particular good or service to many consumers. In a monopoly market, a monopoly or controlling firm has complete control of the market and thus sets the price and supply of goods or services.
- Purely monopoly markets are rare and may not be possible without absolute barriers to entry such as non-compete clauses and exclusive ownership of all natural resources.
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