5. Some people think that businesses create monopolies by destroying their
competition, and there is certainly some truth to that. But as we learned from
Obi-Wan Kenobi, "[Yjou will find that many of the truths we cling to depend
greatly on our own point of view." For instance, some people (Convenience Shop-
pers) love shopping at one particular store and will only switch stores when a prod-
uct is outrageously expensive, while other people (Bargain Shoppers) will gladly
spend hours looking through newspaper advertisements searching for the best deal.
a. When both kinds of people, the Convenience Shoppers and the Bargain
Shoppers, are shopping at the same Wal-Mart, who is more likely to stick to
their prearranged shopping list, and who is more likely to splurge on a little
something?
b. Which group does Wal-Mart have monopoly power over? Which group does
Wal-Mart have no monopoly power over?
c. Does this mean that the same shop can simultaneously be a "monopolist" to
some customers and a "competitive firm" to other customers? Why or why not?
d. Does this mean that Darth Vader really did kill Anakin Skywalker?