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What is a monopoly and describe the barriers to entry? When it comes to the existence of a monopoly, why is it about more than

What is a monopoly and describe the barriers to entry? When it comes to the existence of a monopoly, why is it about more than just firm size? Is a monopoly a price maker or price taker and explain the difference between those terms? What is a monopsony and how can you apply it when it comes to labor markets and wages?

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