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What is an unregulated monopoly?

Question:

What is an unregulated monopoly?

Monopoly:

A monopoly is the sole seller of a product in a market. As such, a monopoly faces no direct competition from any other firms.

Answer and Explanation:

For the most part, most monopolies have some restrictions in regards to their behaviors. The government typically regulates these firms in order to keep their power in check so that the welfare loss they create is lessened. An unregulated monopoly is a monopoly that has no restrictions in place and can take any actions that they wish to take.


Learn more about this topic:

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What is a Monopoly in Economics? - Definition & Impact on Consumers

from Economics 101: Principles of Microeconomics

Chapter 7 / Lesson 2
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