A market outcome that is optimal given existing constraints in the market but worse than the outcome that would result if those constraints were removed is the third-best result.
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Q1: A monopoly that develops because the cheapest
Q2: To have the conditions for a natural
Q4: Under the conditions of sustainable monopoly, extra-normal
Q5: A sufficient condition for a natural monopoly
Q6: The inertia shopping rule states that buyers
Q7: Average-cost pricing is to set a price
Q8: If a firm can prevent competitors from
Q9: A natural monopoly that can erect barriers
Q10: To set a price that is equal
Q11: If an entrepreneur wants a natural monopoly
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