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Sagot :
A monopolist will never choose a price-quantity combination where price reductions cause: total revenues to decrease.
A monopoly is an individual, group, or company that controls and controls the market for a particular good or service. This lack of competition and lack of alternative goods or services means that monopolists have enough power to charge high prices in the market.
The easiest way to become a monopoly is for the government to give a company the exclusive right to provide goods or services. State-created monopolies are designed to create economies of scale that benefit consumers by keeping costs down.
The advantage of a monopoly is that it guarantees a steady supply of goods that are too expensive to offer in a competitive market. The disadvantages of monopolies include fixed prices, inferior products, lack of incentives to innovate, and high costs.
Disclaimer: Learn more about monopolies here https://brainly.com/question/13113415
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