AT&T Inc., the large U.S. phone company and the one-time monopoly, left the payphone business at the
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AT&T Inc., the large U.S. phone company and the one-time monopoly, left the payphone business at the beginning of 2009 because people were switching to wireless phones. U.S. consumers owning cellphones reached 80% by 2007 and 95% by 2018 according to the Pew Research Center. Consequently, the number of payphones fell from 2.6 million at the peak in 1998 to only about 100,000 in 2018 (money. cnn.com/2018/03/19/news/companies/payphones/ index.html). Use graphs to explain why a monopoly may exit a market when its demand curve shifts to the left.
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Managerial Economics And Strategy
ISBN: 9780134899701
3rd Edition
Authors: Jeffrey M. Perloff, James A. Brander
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