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| Topic: |
Business
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| Number of pages / Number of words: |
4 / 1107 |
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One of the major problems with an established monopoly is they seem to raise prices vastly and limit the supply of societies' needs. Monopolies also misallocate resources. However, in a perfectly competitive market, firms are able to create and produce the amount of products needed by society. They are also able to produce them at a reasonable price...
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However, in a perfectly competitive market, firms are able to create and produce the amount of products needed by society. They are also able to produce them at a reasonable price. Though a monopoly may be the perfect situation for that specific firm, the best market for the consumer and society is a perfect competition market...
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