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MONOPOLY - Coggle Diagram
MONOPOLY
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Natural monopoly
A single firm can supply a good @ service to an entire market at a smaller cost than could 2 or > firms
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Price discrimination is the business practice of selling the = good at diff prices to diff cust, even the costs for producing for the 2 cust are =
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While a competitive firm is a price take, a monopoly is a price maker
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