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...Monopoly why natural increasing returns to scale e gg p parts of utilityy companies artificialartificial monopolymonopoly a patent g new drug sole ownership resource toll bridge formation cartel opec assumptionsassumptions many buyers onlyonly oneone sellerseller ii ee notnot aa ppricerice takertaker homogeneous product perfect information restrictedrestricted entryentry and possiblypossibly exit featuresfeatures the monoppolist s demand curve is downward sloping market demanddemand curvecurve monopolist can alter price by adjusting its output level...