Monopoly

Definition:

Absolute control of all sales and distribution in a market by one firm, due to some barrier to entry of other firms, allowing the firm to sell at a higher price than the socially optimal price.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Mortgage bond

A bond in which the issuer has granted the bondholders a lien against the pledged assets. See: Collateral trust bonds

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