Respond to the following in a minimum of 175 words:
1. Explain why monopoly sellers usually offer discount prices to buyers who are willing to mail in a rebate coupon or endure some other type of inconvenience. Discuss why traditional economic models find it difficult to explain why people would pay to attend weight-loss camps that restrict their daily calorie intake.
2. How do monopolies come into existence in the first place?
3. How do monopolies affect your personal buying and selling decisions?