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Which model of human communication is the oldest and most simplistic?
Monopolist
A single seller in a market with no close substitutes for the product, giving them considerable control over the price.
Perfectly Price Discriminate
A pricing strategy where a seller charges the maximum price that each consumer is willing to pay, eliminating consumer surplus and maximizing profits.
Monopolist
An individual or entity that is the sole provider of a particular good or service in the market, possessing significant control over pricing and supply.
Profit
The surplus amount after all expenses are deducted from the total income generated by a business or investment.
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