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  3. Study Set
    Principles of Microconomics
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    Exam 13: Monopoly and Antitrust Policy
  5. Question
    A Doctor Sets Up a Private Practice in Small Town
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A Doctor Sets Up a Private Practice in Small Town

Question 3

Question 3

Essay

A doctor sets up a private practice in small town where he faces no other competitors. In spite of his monopoly position why is he not guaranteed to make a profit?

Correct Answer:

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