The Spacing Guild has a monopoly on space transport. They sell tickets (Q) for seats on starships for interstellar travel at a per-ticket price of P. All tickets cost the same. The Marginal Cost for each seat is $20 and there are no other costs. Market demand is Q=430-3P. What is the difference between the Guild's QUANTITY and the quantity that would result if interstellar travel was a perfectly competitive market?

Q: Where will you see more price discrimination: In monopoly-type markets with just a few firms or in…

A: I will see more price discrimination in monopoly type markets with just a few firms.

Q: What are the main differences between a perfectly competitive market and a monopoly.

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Q: The Spacing Guild has a monopoly on space transport. They sell tickets (Q) for seats on starships…

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A: a market in which there is only one single seller is called monopoly.

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