14 Why do monopolies arise? Why is MR < P for a monopolist? How do monopolies

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14 Why do monopolies arise? Why is MR < P for a monopolist? How do monopolies choose their P and Q? How do monopolies affect society”s well-being? What is price discrimination? What is monopolistic competition? How do monopolistic competitors choose their P and Q? How does entry affect profits in monopolistic competitive industries?

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