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Course: AP??/College Microeconomics?>?Unit 4
Lesson 2: Monopoly- Monopolies vs. perfect competition
- Economic profit for a monopoly
- Monopolist optimizing price: Total revenue
- Monopolist optimizing price: Marginal revenue
- Monopolist optimizing price: Dead weight loss
- Review of revenue and cost graphs for a monopoly
- Monopoly
- Efficiency and monopolies
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Efficiency and monopolies
Problem
Which of the following best defines a natural monopoly?