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Can you help me with these micro-econ questions please1. What important characteristic do all three types of imperfectly competitive firms share? 2. True or false: A firm with market power can sell whatever quantity it wishes at whatever price it chooses. Explain why you chose True/False 3. Why is marginal revenue always less than price for a monopolist but equal to price for a perfectly competitive firm? 4. Why do most successful industrial societies offer patents and copyright protection, even though these protections enable sellers to charge higher prices? 5. True or false: Because a natural monopolist charges a price greater than marginal cost, it necessarily earns a positive economic profit. Explain why you chose True/False

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