Problem
Problems with Monopoly During the 1960s the three largest U.S. producers of automobiles (Ford, General Motors, and Chrysler) sold nearly 90 percent of the cars purchased by U.S. consumers. During the 30 years between 1970 and 2000 these firms lost about one-third of their market to foreign competition that was more technologically advanced. What problem common to monopolies does this situation demonstrate?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.