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Monopoly
A firm that is the single seller in its market. Monopolies have market power because they produce a product or service without close substitutes, they have no rivals, and barriers to entry prevent other firms from entering the industry.
A social media platform where users post and interact with messages known as tweets.
YouTube
A video-sharing platform that allows users to upload, view, share, and comment on videos.
Monopoly Profits
Profits that a company earns when it is the sole supplier of a product or service without any close substitutes, allowing it to control market prices.
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