AT&T and Standard Oil were examples of these that were broken up by antitrust suits.
This phenomenon could theoretically allow each consumer to be charged their reservation price, and increasing returns to scale allow a "natural" form of it. In this situation, prices are set above marginal revenue; thus, firms are(*) price-makers. Intellectual property is a temporarily protected one due to patent and copyright law. AT&T and Standard Oil were examples of these that were broken up by antitrust suits. For 10 points, identify this market state in which there is only one supplier of a particular good, the opposite of perfect competition.
This phenomenon could theoretically allow each consumer to be charged their reservation price, and increasing returns to scale allow a "natural" form of it.
{monopoly} [or word forms, do not accept or prompt on “monopsony”]