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New antitrust regulations are passed by the town that forbids Rochelle and Alec from holding a monopoly. Upon reaching a Nash equilibrium, which is 800, Rochelle and Alec will produce and sell gallons of water.
A market arrangement in which there is just one seller and only one type of goods available. As the only vendor of the goods with no viable alternatives, the seller in a monopoly market has no rivals.
A monopoly in economics is a single vendor. In terms of the law, a monopoly is a company that has a considerable amount of market power, or the ability to set excessively high prices, which is linked to a decline in societal surplus.
When one firm and its product control an entire sector of the economy, there is little to no competition, and customers are forced to buy particular products or services from one company.
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