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Technological superiority: A monopoly may very well be better ready to accumulate, integrate and utilize the best attainable know-how in producing its items though entrants possibly do not have the knowledge or are unable to meet up with the big fastened fees (see earlier mentioned) needed for probably the most effective technologies.[eight] Hence just one significant enterprise can usually deliver goods more cost-effective than a number of compact organizations.
Monopolies derive their industry ability from boundaries to entry – situations that prevent or tremendously impede a possible competitor's capacity to contend inside of a sector. You can find a few key varieties of barriers to entry: economic, authorized and deliberate.
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All programs taken to satisfy any of the above requirements (apart from the humanities and social sciences electives) can't be taken on the pass/fall short basis.