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10 cards from this deck
Market with one seller & no close substitutes
Makers (can influence market prices)
Barriers: patents, regulations, high costs, resources
High development costs prevent entry (e.g., Eskom)
Legal means like patents
D=ARD = ARD=AR (downward sloping)
Below the demand curve
Must lower price for all customers to sell more units
Yes, barriers prevent new competitors
No close substitutes available
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