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3a. Explain what is meant by Market power as defined in the US Antitrust Law? 3b. At what level does the US Government consider a

3a. Explain what is meant by Market power as defined in the US Antitrust Law?

3b. At what level does the US Government consider a firm for review for Antitrust.

3c. Give three reasons why monopolies may exist and explain them briefly.

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