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Describe the three types of industries in terms of their long-run costs:
Monopolization
The act of acquiring or maintaining exclusive control over the supply or trade in a service or commodity, often considered illegal under anti-trust laws.
Market Share
represents the percentage of an industry's sales that is controlled by a particular company, indicating its strength in the market.
Superior-Quality
Refers to products, services, or materials that surpass standard quality measures in terms of performance, durability, and reliability.
Tying Agreements
Business practices where the sale of one product or service is conditioned on the purchase of another, potentially anticompetitive product or service.
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