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| ideal market structure where consumers and producers compete c |
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| One seller controls production of one good or service |
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| sellers offer different rather than identical products |
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| point out difference to consumers |
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| market structure where a few large sellers control most of a product |
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| pricing in response to competitors |
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| largest seller takes the lead in the market |
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| sellers undercut each others prices |
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| sellers secretly agree to set price/production levels. |
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| feature a ingle large seller that produces most efficiently |
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| sellers large size allows it to use its resources most efficiently |
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| monopoly forms because of its geographic location |
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| monopoly forms when new tech. comes into play |
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| grants a single entity exclusive right to use a invention/discovery |
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| gives artists exclusive rights to publish and sell their works |
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| Government owned monopolies, usually based on basic necessities |
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| laws to monitor/regulate big business |
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| different prices to different customers |
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