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1 Explain the difference between monopoly and monopsony. 2 What are the characteristics of a monopoly market? How does it differ from a market of
1 Explain the difference between monopoly and monopsony. 2 What are the characteristics of a monopoly market? How does it differ from a market of monopolistic competition? Give examples of both types of markets. 3. Explain why monopoly is not a preferred market system. Exercises
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Economics Today
Authors: Roger LeRoy Miller
16th edition
132554615, 978-0132554619
