1. There are always some close substitutes for the product any firm sells; therefore, the theory of...

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1. “There are always some close substitutes for the product any firm sells; therefore, the theory of monopoly (which assumes no close substitutes) cannot be useful.” Comment.

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Microeconomics

ISBN: 9780324785494

9th Edition

Authors: Roger A. Arnold

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Question Posted: Nov 04, 2024 02:00 AM

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1. There are always some close substitutes for the product any firm sells; therefore, the theory of...

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Microeconomics

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