Q
QuestionEconomics

Which of the two terms are synonymous in a pure monopoly?
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Step 1
I'll solve this problem by breaking down the key concepts related to pure monopoly.

Step 2
: Understanding Pure Monopoly

In a pure monopoly, two key terms are synonymous: - Price maker - Price setter

Final Answer

"Price maker" and "price setter" are synonymous terms in a pure monopoly, both describing the firm's ability to control market pricing without competitive constraints.

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