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Imagine that it is the year 2199. Technology has progressed at an incredible pace. The latest discovery is the plutonium engine, which is capable of converting plutonium, a by-product of nuclear fission, into fuel to power the nuclear reactors in our new form of transportation, the rocket-car. However, because the firm that invented the engine, the Futures Unlimited Corporation, already has a government license to control and distribute the quantity of this certain isotope of plutonium on the market; it is now conceivably in charge of a monopoly on plutonium-fuelled transportation.

1. Describe the economic outcome of this single-price monopoly in terms of profit. Provide one (1) supporting fact to support your response.

2. Describe one (1) way that the Futures Unlimited Corporation makes output and price decisions.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91707192

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