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Answer the following questions about monopolists. What are the three reasons why monopolies arise? Give one example...

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Economics

Answer the following questions about monopolists.

  1. What are the three reasons why monopolies arise? Give oneexample of a firm that is a monopoly and the reason why it is amonopoly.

  2. How does a monopolist determine its profit-maximizing level ofoutput? How does it determine the price that it charges?

Answer & Explanation Solved by verified expert
4.5 Ratings (643 Votes)
Monopoly is a market structure in which there is only oneproducer and seller of a commodity but there are many buyers Theseller has full control over the marketReasons which give rise to monopoly areOwnership of a key resource There are some factors which    See Answer
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