Map of Haardt on They are not recognized by markets. The presence of externalities often precludes the theoretical solution to GE models by making the equations interdependent. A monopoly is a firm that solely produces a particular good or service and has leverage over the price or quantity of that good or service. There is no supply curve in a monopoly market, and the marginal cost pricing of perfect competition is violated. GE models often are not applicable in the presence of a monopoly. 262 equilibrium, partial/general In the case of a (pure) public good, if one person or organization provides a good or service, then everyone else in a relevant group can use that good or service without paying for it (non-excludability), and that use will not diminish the use of anyone else (non-rivalry). The presence of public goods links the functions of the individuals, and demand is often under-revealed due to the free-rider problem. Map of Haardt 2016.
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