List and Describe Two Alternative Sanctions Available in Canada

question 139

Essay

List and describe two alternative sanctions available in Canada. Include the positive and negative aspects of each sanction.
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Definitions:

Monopoly

A market structure characterized by a single seller, selling a unique product in the market with no close substitutes, thereby controlling the entire market supply.

Dominant Strategy

A strategy that yields the best outcome for a player, regardless of the strategies chosen by other players in a game.

Economic Profit

The difference between a firm's total revenue and its opportunity costs, including both explicit and implicit costs.

Cartel

An agreement among competing firms to control prices or production in a market, often to maximize profits by minimizing competition.