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5 Cards in this Set
- Front
- Back
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One feature of pure monopoly is that the firm is: |
A price maker |
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Barriers to entry: |
can result from gov. regulation |
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In many cities, taxis operate as near monopolies because of: |
licenses |
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At the profit-maximization level of output for a monopolist: |
price is greater than marginal cost |
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Pure monopolists: |
operate where P> |
