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Think of a real world example that could be considered a monopoly. Explain what characteristics it possesses that would qualify it as a monopoly. Explain
Think of a real world example that could be considered a monopoly. Explain what characteristics it possesses that would qualify it as a monopoly. Explain how monopolies differ from perfectly competitive firms (give at least three attributes). Examples of attributes include how the price is set, how firms enter/exit the market, etc. List the condition where monopolies maximize profit
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