1.1 The Royal Mail has a monopoly on first-class mail and the exclusive right to put mail...

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1.1 The Royal Mail has a monopoly on first-class mail and the exclusive right to put mail in private mailboxes. Pfizer Inc.

makes LIPITOR, a prescription drug that lowers cholesterol.

Yorkshire Water is the sole supplier of drinking water in parts of northern England. Are any these firms protected by a barrier to entry? Do any of these firms produce a good or service that has a substitute? Might any of them be able to profit from price discrimination? Explain your answers.

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