M E M O R A N D U M - Miami-Dade County Public Schools

For what reasons would you expect a monopoly to charge (a) a higher price, and (b) a lower price than if the industry were operating under perfect competition? ... The employer can pay less to new recruits and yet still attract them to the firm because of the prospects of higher pay in the years to come. The firm can go on recruiting new staff ... ................
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