A requirement for pure competition is the absence of significant barriers to entry into the market by new firms. Monopoly, correspondingly, arises because of barriers to entry. A monopoly firm is the only seller of a good or service with no close substitutes. The market in which the monopoly firm operates is called a monopoly market. The definition of a monopoly firm or market may seem precise, but in the real world, when we try to decide which markets are monopolies and which are not, things aren't always so clear. How close must a substitute for a product be before we no longer consider a firm

that makes the product to be a monopoly?

Two forces dominated developments in the computer industry in 1995- the arrival of Microsoft Corp.'s new Windows 95 personal computer operating system and the overnight authority of the Internet and the World Wide Web, a subset of the Internet for multimedia use. Events in 1995 drew so much attention to both Windows and the Web that by year's end the computer mouse had become almost as well known to the world's population at large as the television set remote control. Both Windows 95 and the Web were mileposts on what clearly emerged during the

providing vital information about Intel chips to three computer manufactures that declined to license key patents to Intel. Intel maintained that it had the right to act as it did. A trial on that suit was set for February 1999. Apple Computer staged an amazing recovery that became apparent in January when the firm returned to profitability and continued during the year with the introduction of successful new computer models, such as the Power Macintosh G3 and the iMac consumer computer. Apple introduced the iMac in August and promoted it on the basis of its ease of use and obvious physical differences

In late November AOL announced two startling deals: a $4.2 billion agreement to acquire Netscape and an alliance with Sun Microsystems, which had filed a separate suit against Microsoft over the alleged misuse of Sun's Java programming language, Government lawyers denied that the AOL-Netscape-Sun deal weakened their arguments, and the case was still pending at year's end. A lower profile antitrust suit was filed by the Federal Trade Commission in June against computer chip giant Intel Corporation. That suit accused Intel of using monopolistic practices when it stopped or threatened to stop

of all forms of information from simple text to moving video as digital data that could be processed, stored, and manipulated by computers using a graphic interface. In May the US Justice Department filed an antitrust suit against Microsoft, alleging that Microsoft had used monopoly power to restrict competition. Based on the contention that Microsoft improperly sought to dominate the market for Internet browser software-to the disadvantage of Netscape, maker of the most popular World Wide We

Some common words found in the essay are:
Macintosh G3, Computer Industry, Broderbund Software, Windows Web, Microsoft September, Justice Department, Wide Web, IBM DEC, Intel Corporation, Windows Government, computer industry, monopoly firm, world's largest, world wide web, restrict competition, operating system, contention microsoft, world wide, windows government, wide web, suit microsoft,
Approximate Word count = 1146
Approximate Pages = 5 (250 words per page double spaced)