What are the characteristics of a pure monopoly market, Business Economics

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What are the characteristics of a pure monopoly market

1. What are the characteristics of a pure monopoly market structure?

2. How does a monopoly acheive and maintain its monopoly from other firms?

3. Why is marginal revenue less than the selling price for a monopoly?

4. Why is monopoly considered to be the most inefficient market structure?

5. What conditions are necessary for a firm to practice price discrimination?

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Business Economics: What are the characteristics of a pure monopoly market

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