Monopoly

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Monopoly

In the course of my examination of this question I arrived at what I conceive to be a demonstration of the following principle:⁠—

That even under circumstances of the most absolute monopoly, the monopolist will, if he knows his own interest and pursues it, sell the article he produces at exactly the same price as the freest competition would produce.

I devoted a chapter to this subject in an edition which I prepared several years ago for a new Italian translation of the Economy of Manufactures; but I am not aware whether it has yet been published.