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Answer one of True, false, or uncertain. For each question, explain your answer in three or less sentences. 1.Since monopolies also have incentives for cost
Answer one of True, false, or uncertain. For each question, explain your answer in three or less sentences. 1.Since monopolies also have incentives for cost minimization, productive inefficiency under monopoly is negligible. 2. A firm's monopoly power is limited by the price elasticity of demand. 3. Under rate-of-return regulation, firms have no incentive to reduce production costs.
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