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Chap15

Chap15

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Published by Nikhil Lathiya

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Published by: Nikhil Lathiya on Feb 21, 2011
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Monopoly
Chapter 15
Copyright © 2001 by Harcourt, Inc
.All rights reserved.Requests for permission to make copies of any part of thework should be mailed to:Permissions Department, Harcourt College Publishers,6277 Sea Harbor Drive, Orlando, Florida 32887-6777.
 
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
Monopoly
W
hile a competitive firm is aprice taker, a monopoly firm isaprice maker.
 
Harcourt, Inc. items and derived items copyright © 2001 by Harcourt, Inc.
Monopoly
A
firm is considered a monopoly if . . .
~
it is the sole seller of its product.
~
its product does not have closesubstitutes.

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