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Assume that a monopolist decides to maximize revenue rather than profit. How does this operating objective change the size of the deadweight loss? If you are a "benevolent" manager of a monopoly firm and are interested in reducing the deadweight loss of monopoly, should you maximize profits or maximize revenue? Explain your answer.
Lobbying
The act of attempting to influence decisions made by officials in the government, most often legislators, by individuals or more commonly by lobby groups.
Political Action Committee (PAC)
An organization that collects political donations from its members and uses those funds to support or oppose candidates, legislation, or political initiatives.
Federal Office
A position of responsibility or authority within the federal government of a country, typically in the executive, legislative, or judicial branches.
Same-Sex Marriage
The legal or socially recognized marriage between two people of the same sex.
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