MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Chapter 16, Problem 8QE
To determine

Natural monopolies and competition.

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What are monopolies and oligopolies? How do they tend to differ from businesses in a market where there is free-market competition? Why do they exhibit such differences?
Which two kinds of monopolies exist? Which is more economically efficient? Why?
Which benefit is shared by both monopolies and oligopolies?
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