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A monopolist can sell 20 units a week at a price of $10 per unit. To sell 21 units a week, it would have to lower its price to $9 per unit. The marginal revenue of the 21st unit would be:
Exclusivity
A contractual agreement where one party grants another party sole rights regarding a specific business function, product, or service.
Codify
The process of collecting and systematizing laws, rules, or regulations into a code or coherent system.
Mining Partner
An individual or entity that enters into a partnership with others to engage in the exploration or extraction of minerals.
Transferable Interest
The portion of a member's ownership in an LLC or partnership that can be transferred or sold.
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