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Loraine Loraine
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8 years ago
Assume someone organizes all farms in the nation into a monopoly. As a result, consumer surplus will
A) not change.
B) increase.
C) decrease.
D) either increase, decrease, or not change depending if the monopoly's marginal revenue curve lies below, above, or is the same as its demand curve.
E) None of the above answers is correct because the effect on consumer surplus depends on whether the monopoly is a single-price or a price-discriminating monopoly.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SmooothSmoooth
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8 years ago
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8 years ago
Don't mention it Happy Dummy
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