What conditions should exist in order for pure monopolist

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What conditions must exist in order for a pure monopolist to achieve economic profits? Is the profitability of a firm's operation a good index of the degree of monopoly power it possesses?

Do you agree or disagree with the statement that: "A monopolist always charges the highest possible price." Explain. "Pure monopoly guarantees economic profits." Discuss whether this is a valid statement.

Reference no: EM13390403

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