The final market structure is ‘Monopoly‘ (and no, nothing to do with passing ‘GO’ and receiving €200). In fact, there are no competing players…theres only one firm which can use its unhindered market power to control price and quantity supplied – to earn maximum profitability and exclude other firms from competing with it.
After you study this, refer back to Econ 101 #11 to compare the short run (SR) and long run (LR) graphs of all 4 market structures.
Heres the PDF PIIGSTY Econ 101 #16 Monopoly
