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Describe and compare the following types of monopolies and the benefits of their existence: natural, technological, and franchises.

A monopoly is said to exist when some individuals or enterprises control a particular product or service and use it to determine the terms on which other individuals can access it.

Natural monopoly happens when there is control of goods and services whose delivery requires the construction of a physical network such as local phone service, water, sewage removal, electricity, gas. Natural monopolies are often regulated and cannot, therefore, charge higher prices without government approval.

Technological monopoly is the monopoly of wire-based networks, local phone services, and electricity, long-distance telephone service like AT&T.

Franchising is the method of practicing and using another person’s business plans, proposals, and trademarks for a fee and a percentage of gross monthly sales.

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Academic.Tips. 2021. "Describe and compare the following types of monopolies and the benefits of their existence: natural, technological, and franchises." October 7, 2021. https://academic.tips/question/describe-and-compare-the-following-types-of-monopolies-and-the-benefits-of-their-existence-natural-technological-and-franchises/.

1. Academic.Tips. "Describe and compare the following types of monopolies and the benefits of their existence: natural, technological, and franchises." October 7, 2021. https://academic.tips/question/describe-and-compare-the-following-types-of-monopolies-and-the-benefits-of-their-existence-natural-technological-and-franchises/.


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Academic.Tips. "Describe and compare the following types of monopolies and the benefits of their existence: natural, technological, and franchises." October 7, 2021. https://academic.tips/question/describe-and-compare-the-following-types-of-monopolies-and-the-benefits-of-their-existence-natural-technological-and-franchises/.

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"Describe and compare the following types of monopolies and the benefits of their existence: natural, technological, and franchises." Academic.Tips, 7 Oct. 2021, academic.tips/question/describe-and-compare-the-following-types-of-monopolies-and-the-benefits-of-their-existence-natural-technological-and-franchises/.

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