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Key Terms:
allocative
inefficiency, productive inefficiency, deadweight
loss, economies of scale, natural monopoly,
X-inefficiency, dynamic efficiency, anti-trust policy,
price fixing, tying contract, public interest theory
of regulation, legal cartel theory of regulation,
deregulation, price discrimination, regulated
monopoly, natural monopoly, socially-optimal price
(allocatively efficient price), fair-return price
(average-cost price)
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