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During the Civil War,citizens set up their wagons full of merchandise on the edge of army camps and sold the soldiers items such as stationery,shaving mirrors,and tobacco that the U.S.government did not supply in the soldier's rations.These citizens were early .
Monopolist
A single seller in a market with no close substitutes for the product or service, allowing for control over prices.
Non-discriminating Monopolist
A monopolist who charges a single price for its product to all consumers, regardless of market segment differences.
Marginal Revenue
It refers to the additional income earned from selling one more unit of a product or service.
Inelastic Portion
The segment of a demand curve where buyers are less responsive to changes in price, indicating that the quantity demanded changes little with a significant price fluctuation.
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