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As an illustration of the difficulty in identifying monopolies, try and decide which of the following are monopolies: British Telecom; your local evening newspaper; a water company; the village post office; the Royal Mail; Interflora; the London Underground; ice-creams in the cinema; Guinness; food sold in a train buffet car; Tipp-Ex; the board game ‘Monopoly'.

Macroeconomics, Economics

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