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Answer the following questions about monopolists. 1. What are the three reasons why monopolies arise? 2. Give one example of a firm that is a

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Answer the following questions about monopolists. 1. What are the three reasons why monopolies arise? 2. Give one example of a firm that is a monopoly and the reason why it is a monopoly. 3. How does a monopolist determine its profit- maximizing level of output? How does it determine the price that it charges

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