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Pure Monopoly:
Pure monopoly examined the market structure that is generally regarded as the polar opposite of perfect competition – i.e. the monopoly model. Like the perfect competition model, the monopoly model is designed to be an extreme case and it is rarely found in the real world. However, the model offers an important benchmark against which to compare less extreme forms of monopoly power.
THEORY OF CONSUMER SURPLUS: We discuss the basic concept of consumer surplus and its derivation. A consumer normally pays less for a commodity than the maximum amount that she
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