Are monopolies realistic?

  • A true monopoly is rare
    • Defining a market is incredibly difficult
    • Markets with only a single supplier are rare
  • Here are a few examples of monopolies
    • AT&T was the only long-distance telecommunications service prior to 1984
    • Cycloserine is the only drug on the market to treat drug-resistant tuberculosis
    • EWEB is the only electricity provider in Eugene
    • Many cities only have a single cable provider