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If a Firm Is the Sole Supplier of a Good

Question 148

Multiple Choice

If a firm is the sole supplier of a good for which there are no close substitutes,and barriers to entry into the industry exist,it must be that


A) profit will be earned.
B) losses will never occur.
C) any price can be charged.
D) price and marginal revenue are the same.
E) a deadweight loss to society will occur.

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