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Assignment - 4

1. Define a natural monopoly and explain the average cost pricing policy?

2. How a Profit-Maximizing Monopoly Chooses Output and Price.

3. Describe the practice of price discrimination.

ECON 101 Assignment 4.docx

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Solution Preview

A Natural Monopoly is a type of Monopoly which there are very high Fixed Costs or Start-up Costs or other barriers to entry in getting started in a certain type of business or industry or delivering a type of product or service. A natural monopoly occurs when the most efficient number of firms in the

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