Use economic terminology, Fred Smith, the inventor of

Use economic terminology

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Fred Smith, the inventor of FedEx, came up with a new product called Zap Mail in the mid 1980's. Zap mail, although a monopoly, was not successful. The company lost about $390 million on Zap Mail before the product was eventually discontinued. -- How is it possible for a monopoly to suffer economic losses since, by definition, it faces no competition? - please use economic terminology

Reference no: EM131392591

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