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mregueral mregueral
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A year ago
Welfare Effects of Monopoly

The graph shows the demand curve (D), the marginal cost curve (MC), and the marginal revenue curve (MR) in a perfectly competitive industry.



Assume that P1=$15, P2=$21, P3=$33, Q1=185, and Q2=280. If the industry becomes a monopoly, price ________ (increases/decreases) by ________ and quantity ________ (increases/decrease) by ________.

▸ decreases, $12, decreases, 185

▸ increases, $12, decreases, 95

▸ increases, $18, increases, 185

▸ decreases, $18, increases, 95
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
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JehanzaibJehanzaib
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A year ago
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