a) Characteristics

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4 Terms

1
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  • state who the buyers in a monopoly market are

  • state who the sellers in a monopoly market are


  • consumers

  • firms


2
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  • state the characteristics of a monopoly market


  • many buyers and one seller

  • sellers are price makers

    • no substitute products

  • high barriers to entry/exit


3
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  • n/a


  • n/a


4
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  • n/a


  • n/a