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Use the Binomial Theorem to expand and simplify the expression.
"Fair Return" Price
A price set at a level intended to allow a firm to cover its costs and earn a reasonable profit, often regulated in public utility sectors.
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.
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