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10 questions from this quiz
Monopolist is a price maker
MR has same intercept, twice AR's slope
Where MR=MC\text{MR} = \text{MC}MR=MC
Elastic portion where MR is positive
Barriers to entry prevent competition
High fixed costs, low marginal costs
No, because P>MCP > \text{MC}P>MC
Market power, Info, Prevention of resale
Group with less elastic demand
Less output at higher price
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