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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Quiz - Chapter Nine

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Q 1.In the U.S. a drug company’s patent remains in force for: 2.A monopolistic company has the ability to maximize its profits by 3.When a natural monopoly exists in a given industry, the per-unit costs of production will be 4.At what price does this natural monopoly meet demand?

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1.20 years. 2.producing output where MR = MC and charging a price along the demand curve. 3.lowest when a single firm generates the entire output of the industry. 4.