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Give an example of a monopolistic market/firm or a dominant firm. Clarify which type (monopoly or...

  1. Give an example of a monopolistic market/firm or a dominant firm. Clarify which type (monopoly or dominant firm) your example fits and why. Identify and briefly discuss the barriers to entry for the market in your example. Be specific.
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Answer #1

A monopolistic market/firm would be any PSU/ government run service in your country. I will take the example of Indian Railways. It is a government owned and controlled monopoly, as it feels both from socialistic as well as from strategic points of view Railway should be run by the government.

Barriers to Entry:

1. Government Legislation
2. High Upfront, Operational Costs, running into billions of dollars
3. Extremely Low fares, especially in the passenger segment.


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