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Who was the founder of the monopoly?
The founder of the monopoly was in the 19th century in the US with Bell Light company. They were the only providers of electricity in the entire world. This therefore generated the first monopoly that mankind ever knew.
When the government creates a monopoly the social loss may include what?
the cost of lawyers and lobbyists hired to convince lawmakers to continue the monopoly.
Why did the colonies object to the tea act?
The Tea Act ended a number of restrictions but retained the monopoly on shipping tea to the colonies. Only the British East India Company could ship tea to the colonies. Parliament and the King insisted on showing they were still all powerful. So, the objection was more a power struggle than anything else.
What is Trust-busting?
Trustbusting is the act of taking a conglomeration of companies to court and trying to prove that they are inhibiting free trade. If found guilty the conglomerate would then be broken up into smaller companies, thus preventing a monopoly.
What is the control of the market by a single enterprise called?
monopoly? The control of a market by a single enterprise that is the only source of supply is a monopoly. Control by a single enterprise that is the only source of demand is a monopsony.
