"Mono" means ONE. Literally the number 1. Monopoly generally means ONE supplier that controls the entire marketplace.
There are other forms of market failure relating to a small group having too much power in the market: Monopoly, Cartel, Oligopoly, Monopsony, etc. etc.
Oligopoly or Cartel are far closer to what the article is describing. To use the word "Monopoly" here is simply incorrect English.
There are other forms of market failure relating to a small group having too much power in the market: Monopoly, Cartel, Oligopoly, Monopsony, etc. etc.
Oligopoly or Cartel are far closer to what the article is describing. To use the word "Monopoly" here is simply incorrect English.