While talking about monopoly, people usually will bring up with bad, expensive, angry, and others impressions or feeling about that. However, here is a special case that will be discuss in the following.
Should UBC book store belongs to a monopoly? It would be determine as a special monopoly that exist in UBC campus because it has some common characteristics to monopoly but still slightly different.
According to the definition of monopoly, the business’ goal is to maximizes profits, also it is a price maker. Other sellers are unable to enter the market because of high barriers and a monopolist can decided the quality of the product or the price of the product. However, UBC bookstore is conform with the two above expect that UBC bookstore is not consider profit maximizing as their goals but convenience to all the students and staff. Also, it will not just change the price and the quality of the products they provided.
The most important thing need to mention about is the services they offer to the customers.(showing in the picture below)
UBC bookstore offers with online services which people can order online and it can be deliver directly to their residence or house. What is more, students can have a lower price to rent the textbook which may not need in the next semester, so that students can ignore of selling back to others. Besides, it is also accepted that students can sell their used book to bookstore. Finally, cash back is a very nice services to consumers because people basically using different debit cards from different banks. It charges people extra money of taking money out from a ATM machine. This can reduce unnecessary cost. Overall, UBC bookstore gives buyers with valuable services.