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QUESTION
No point is better accepted than the fact that the monopoly price is higher and the output smaller than what is socially ideal. The public is the victim.
(a) Distinguish between perfect competition and monopoly market structures
(b) Do you consider that when monopoly exists, the public is always the victim?
(c) Explain the different pricing strategies of firms under oligopoly.
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rice donation
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summarize the basic tenets of the arguments in this case?
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