If a firm has no variable costs, the profit-maximizing price is also the revenue-maximizing price.
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Q1: Legal barriers to entry include patents, government
Q3: X-inefficiency occurs when a monopolist produces output
Q4: Third-degree price discrimination is sometimes called discrimination
Q5: A monopolist that practices perfect price discrimination
Q6: Monopolists are guaranteed to earn a positive
Q7: Price discrimination occurs when a seller charges
Q8: When a store offers an incentive for
Q9: The perfectly price-discriminating monopolist achieves resource allocative
Q10: At one time, monopolies were granted to
Q11: One of the assumptions of the theory
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