User: __________________ occurs when a country has a monopoly on producing a product or is able to produce it at a cost below that of all other countries.

Note: What occurs when a country has a monopoly on producing a product or is able to produce it at a cost below that of all other countries? [ http://wiki.answers.com/Q/What_occurs_when_a_country_has_a_monopoly_on_producing_a_product_or_is_able_to_produce_it_at_a_cost_below_that_of_all_other_countries ]
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Weegy: Monopolies are thus characterized by a lack of economic competition to produce the good or service and a lack of viable substitute goods.[2] The verb "monopolize" refers to the process by which a company gains the ability to raise prices or exclude [ competitors. In economics, a monopoly is a single seller. In law, a monopoly is business entity that has significant market power, that is, the power, to charge high prices.[3] Although monopolies may be big businesses, size is not a characteristic of a monopoly. A small business may still have the power to raise prices in a small industry (or market).[4] ]
Expert answered|AwesomeGuy200|Points 578|