There are always some close substitutes for the product any firm sells; therefore, the theory of monopoly

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“There are always some close substitutes for the product any firm sells; therefore, the theory of monopoly (which assumes no close substitutes) cannot be useful.” Comment.

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Microeconomics

ISBN: 9781337617406

13th Edition

Authors: Roger A Arnold

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Question Posted: Apr 05, 2024 05:00 AM

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There are always some close substitutes for the product any firm sells; therefore, the theory of monopoly

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Lets assume that any product a firm sells has some close substitutes ...View the full answer

Microeconomics

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