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Thu 21 May, 2015 10:16 pm
Consider a monopolist that cannot engage in any kind of price discrimination. Why does the monopolist produce a smaller output and charge a higher price than it would prevail if the industry were perfectly competitive?
@jumpingjack139,
when industry is in perfect competition the best one will reap the more fruit of profit
but a monopolist reaps more profit without any fear of competition and quality management then why will he allow the competition?
@jumpingjack139,
One word - buy Boardwalk especially if you already have Park Place
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