In order for monopoly to exist, there must be some form of barriers to the entry of new firms.
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Q121: In perfect competition, the smaller firms will
Q122: The perfectly competitive firm maximizes profit by
Q123: In the long run, the perfectly competitive
Q124: The entry of new firms in a
Q125: Economic theory predicts that a perfectly competitive
Q127: The monopolist faces a demand curve that
Q128: The monopolist is a price taker.
Q129: For the monopolist, marginal revenue is equal
Q130: In order to sell more units, the
Q131: A cartel is a monopoly arising from
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