Examlex
Which of the following statements is incorrect?
Pure Monopolist
A market participant that has complete control over the market for a particular good or service, with no close substitutes.
Profit-Maximizing Quantity
The level of output at which a company can achieve the highest profit, where marginal cost is equal to marginal revenue.
Price Discriminate
The practice of selling the same product to different consumers at different prices based on what each is willing to pay.
Pure Monopolist
A single seller in a market who has complete control over the supply of a product and its price, with no close substitutes available.
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