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Lecture Economics (9/e): Chapter 14 - David C. Colander

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Chapter 14 - Monopoly and monopolistic competition. After reading this chapter, you should be able to: Summarize how and why the decisions facing a monopolist differ from the collective decisions of competing firms; determine a monopolist's price, output, and profit graphically and numerically; show graphically the welfare loss from monopoly; explain why there would be no monopoly without barriers to entry.

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