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Discuss the economic effects of monopoly.

DO NOT MAKE IT LOOK LIKE AN ESSAY PLEASE THE QUESTIONS JUST HAVE TO BE ANSWERED,

Discuss the economic effects of monopoly. Be sure to include the following:

1. Monopoly price compared to the price of a competitive firm

2. Efficiency of resource allocation

3. Monopoly and its impact on large-scale production and unit cost of production

Explain the significance of resource pricing in terms of the following:

1. Money-income determination

2. Cost minimization

3. Resource allocation

4. Policy issues


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