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Are mcdonald and starbucks monopolies why or why not

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Reference no: EM131574448

1. Are McDonald's and Starbucks Monopolies? Why or why not?

2. Explain why MR<P for the monopolist, but MR=P for perfectly competitive firms.

3. Why are monopoly firms able to earn long-run economic profits while perfectly competitive firms cannot?

4. Under what market conditions would a firm find it easier to engage in price discrimination?

Reference no: EM131574448

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