Figure 8-11 
Figure 8-11 shows the cost and demand curves for a monopolist.
-Refer to Figure 8-11.If this industry were organised as a perfectly competitive industry,the market output and market price would be
Definitions:
Minor
A person under the age of legal adulthood, which varies by jurisdiction but is commonly 18.
Express Ratification
The explicit approval or confirmation of a previously unauthorized act.
Age of Majority
The legally defined age at which an individual is recognized as an adult and is fully accountable for his or her actions.
Intends
Plans or aims to carry out a specific action in the future.
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