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Economics Theme 3

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monopoly

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Terms in this set (82)

Market with one seller with high barriers to entry

third degree price discrimination

practice of dividing consumers into two or more groups with separate demand curves and charging different prices to each group

monopolistic competition

A market structure in which barriers to entry and exit are low and many firms produce slightly differentiated products

When a firm splits into two or more independent businesses

horizontal merger

the joining of two firms at the same stage of production in the same industry