Examlex
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Pure Monopolist
A market scenario where a single supplier controls the entire supply of a unique product or service, with no close substitutes available.
Increase Price
The action of raising the cost that consumers must pay to purchase a product or service.
Economic Profits
The result of subtracting a firm's entire costs, encompassing both tangible and intangible expenses, from its total revenue.
Nondiscriminating Monopolist
A monopolist who charges all consumers the same price for its product or service, unlike price discrimination strategies where different prices are set for different markets or consumers.
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