In this week's readings, we continue our examination of the various types of industry structures in which modern rms operate. In the rst structure we've studied, perfect competition, the competitive environment is such that rms\" being able to achieve economic prot only encourages new entrants (on the supplyside). Beginning with Chapter 9, we explore market structures that are quite different from perfect competition, and we collectively call these industries "imperfect competition". The most extreme form of imperfectly competitive industry is that of monopoly. No doubt you've all heard the term monopoly before, and it likely brings to mind the essence of market domination by one rm. lfa monopoly producer has no competition, then such a rm is often thought to have achieved the pinnacle of business success on the supply side. But there are problems with monopolies not so much for the monopoly rms themselves, but for those on the demand side, as well as for society as a whole. What are some of these problems, and why, with the exception of certain so-called "natural monopolies", does government take such an active interest in trying to prevent their existence