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30 October, 01:50

Many people mistakenly believe that a monopolist must earn profits. Explain why this is not necessarily the case.

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  1. 30 October, 02:32
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    In a monopoly, one company will set a specific price for the good or service. But after some time, the monopolies can become inefficient and reduced its innovation. Since they don't have to compete to others. Monopolies are less efficient in total gains from trade than a competitive company.
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