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MONOPOLY: A GAME OR REALITY A monopoly is a market structure in which there is a single firm selling a product with no close substitutes. The general perception is that corporations who monopolize industries are "fiends" who practices profit maximization means and prevent competition from existing and therefore preventing gains in productivity, efficiency, and economic development from arising. However, this assumption does not always hold true. Although monopolies are able to dictate the market price of their products and maximize on corporate gains, they often pursue other objectives such as maximizing sales, public image, and general welfare and consumer satisfaction. All of which are avenues through which the firm may maximize profits in the future. However, contrary to the title given to them, the reality is that monopolies are a stabilizing factor in our economy, and without them our society would be in chaos. Think of a world without monopolies. A...

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