The term "monopoly, apart from our experience with the famous board gameby the same name, is something that typically engenders a negative reactionon the part of many. Thoughts of collusion, short supply, fewer choices, and high pricesand thus the need for government regulation and interventionoften follow.

Write a short essay explaining the "in's and out's" of monopoly. What should one really know to properly understand the topic of monopoly? Ought we fear them as much as some often do? Can monopolies ever serve a positive role? Is there such a thing as a "good monopoly"?