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Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
Edition 20ISBN: 978-1308221281Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
Edition 20ISBN: 978-1308221281 Exercise 1
Which of the following could explain why a firm is a monopoly Select one or more answers from the choices shown.
a. Patents.
b. Economies of scale.
c. Inelastic demand.
d. Government licenses.
e. Downsloping market demand.
a. Patents.
b. Economies of scale.
c. Inelastic demand.
d. Government licenses.
e. Downsloping market demand.
Explanation
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Monopoly:
Monopoly refers to the market...
Microeconomics 20th Edition by McConnell, Sean Flynn, Stanley Brue
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