What is key difference between a monopolist and a competitor, Microeconomics

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What is key difference between a monopolist and a competitor

Problem

1. What is the key difference between a monopolist and a perfect competitor?

2. Does a monopolist take market price as given? Why or why not?

3. Why is marginal revenue below average revenue for a monopolist?

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.

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Microeconomics: What is key difference between a monopolist and a competitor

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Microeconomics: What is key difference between a monopolist and a competitor

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