Chapter 15

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  1. monopoly
    a firm that is the sole seller of a product without close substitutes
  2. natural monopoly
    a monopoly that arises because a single firm can supply a good or service to an entire market at a smaller cost than could two or more firms
  3. price discrimination
    the business practice of selling the same good at different prices to different customers
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19823
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Chapter 15
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A.P. Economics textbook, Chapter 15 vocabulary
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