Problem
1. Would a profit-maximizing monopolist have an incentive to sell his output at the lowest possible price? Why or why not?
2. What are the major sources of monopoly? Can a monopolized industry sometimes be transformed into a competitive industry? Why may it sometimes be costly to break up a monopoly into several smaller independent firms? Explain.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.