• Point out one product that you believe is produced by a "pure" monopoly firm (or a firm with a high degree of monopoly power).
• Is it a local, regional or national monopoly?
• What are some of the Barriers to Entry into this industry?
• For the product listed, list substitute(s) for this "monopoly."
• Demonstrate how the relative "closeness" of the substitutes listed determines, to a large degree, effective limits to the monopoly power of these firms.