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Business, 10.04.2020 01:47 Malari4445

Papabear Corporation is a single seller of Wonderstuff, but there are two substitutes for Wonderstuff. Given this situation, Papabear: cannot be a monopoly because there are substitutes for Wonderstuff. cannot be a monopoly because two substitutes make it a competitive market. can still be a monopoly because it is unknown if the two substitutes are close substitutes. acts as if it were competitive and takes the price set in the market.

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Papabear Corporation is a single seller of Wonderstuff, but there are two substitutes for Wonderstuf...
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