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A monopolist is a firm with a small number of rivals. True False QUESTION 7 A city with three 100-bed hospitals would be described as

A monopolist is a firm with a small number of rivals.

True

False

QUESTION 7

A city with three 100-bed hospitals would be described as a perfectly competitive market.

True

False

QUESTION 8

Reducing sales will increase profits if marginal revenue is larger than marginal cost.

True

False

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