8 t the monopolist faces the entire market demand

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8. T The monopolist faces the entire market demand curve as it is the only firm providing the good. 9. T The control of a key resource, in this case the stadium, is a barrier to entry. 10. F This is a narrow definition of monopoly. 11. T This is the definition of a public franchise. 12. T Generic drugs are drugs that are no longer protected by patents and are produced by a number of pharmaceutical companies. 13. F A merger between firms that produce the same product would be a horizontal merger. 14. T See the section “The Department of Justice and Federal Trade Commission Merger Guidelines” beginning on page 491. 15. F Microsoft discovered that it had to charge the same price as Sony due to competition. This price was not set by the government.
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