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What is entry barrier that is source of the monopoly power

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Reference no: EM131600010

Question: a. What are the three sources of the barriers to entry that allow a monopoly to remain the sole seller of a product?

b. What is the entry barrier that is the source of the monopoly power for the following products or producers? List some competitors that keep these products or producers from having absolute monopoly power.

(1) United States Postal Service

(2) Perrier Spring Water

(3) Prozac (a brand-name drug)

(4) DeBeers Diamonds

(5) Principles of Economics by N. Gregory Mankiw (your textbook)

(6) Edison Power Company

Reference no: EM131600010

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