Please answer all the questions. Thanks

Chapter 11 - Monopoly For you own study be prepared to define and give an example or a brief explanation for each of the following key terms: imperfect competition, monopoly, monopolistic competition, oligopoly patent, copyright, intellectual property Please list out and answer the following questions: 1. Why isn't a monopolist a price taker? I 2. A. To sell more what must a monopolist do? B. What does this mean in terms of marginal revenue? 3. What situation allows for a natural monopoly to exist? 4. If there is only one producer of a service due to a natural monopoly, how do societies ensure O that the natural monopolist does not earn large monopoly profits? 5. Using the following graph: 1,800 Marginal cost 1,600 1,400 - Total profit 1,200 Average cost 1,000 Marginal Cost/ Marginal Revenue 800 600 400 Demand 200 Margnal revenue -200 5 6 7. 8 Quantity OF