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>>Roads have extremely high up front costs and
>> long lead times. This is true, but it doesn't change the mindset of the
monopolizer. Once a decision has been made to build a competing road the bulldozers, so to speak, are unstoppable. The icecream-van-man with a local monopoly faces the prospect of awakening to find a competitor whom he can negotiate with, or change locations himself.
The road owner faces the prospect of a road being built, which may be a better road (use a more direct route), and
provide competition which will never go away. I assure you that this this prospect is no less scary for a businessman.
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