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a single firm is the sole producer of a product for which there are no close substitutes
increases in the value of a product to each user, including existing users, as the total number of users rises
the production of output, whatever its level, at a higher average (and total) cost than is necessary for producing that level of output
any activity designed to transfer income or wealth to a particular firm or resource supplier at someone else's, or even society's, expense
the practice of selling a specific product at more than one price when the price differences are not justified by cost differences
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