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What market conditions may challenge the following statement? A
monopolist is a price-maker because this firm can charge whatever price they desire. Do the analyses of Perfect Competition and Monopoly reveal any common principles?Why are monopoly firms generally inefficient? Provide an example of an efficient monopoly firm, and explain under what circumstances such monopolies behave more efficiently.Would a Natural Monopoly following the profit maximization (MR=MC) rule operate with excess capacity? How can the government regulate natural monopolies to achieve more efficient outcomes?
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