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A monopoly is a market structure in which there is only one seller of a unique product.
Question 1 options:TrueFalse
Question 2 (1 point)
Although not all companies are monopolies, many possess monopoly power to some degree in the market because of the nature of their products.
Question 2 options:TrueFalse
Question 3 (1 point)
The pricing and output decisions of monopolists are the same as those of a competitive company.
Question 3 options:TrueFalse
Question 4 (1 point)
Antitrust laws are designed to prevent companies from using their market power against consumers and other companies.
Question 4 options:TrueFalse
Question 5 (1 point)
Larger companies enjoy economies of scale, achieving higher unit costs and a higher per-unit price.
Question 5 options:TrueFalse

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