Explain How a Monopoly Makes Supernormal Pro?ts

question 18

Essay

Explain how a monopoly makes supernormal pro?ts.

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Definitions:

Mere Exposure Effect

The tendency for people to come to like things simply because they see or encounter them repeatedly.

Ingroup Members

People who belong to the same group or category as we do.

Outgroup Members

People who belong to a different group or category than we do.

Embodied Attitudes

The concept that beliefs and feelings can be influenced or even determined by bodily conditions and states.