IB Economics: Monopolies and Abnormal Profits

excite caps hat final 50 matching colourAmerica, considered a land of opportunity based on the principles of capitalism and a free market economy has seen huge and persistent profits which are largely sustainable because of a lack of healthy competition. Many firms are acting as monopolies or oligopolies with a tenth of the economy controlled by a handful of firms from dog food and batteries to airlines, credit cards and telecoms.

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