Business, 26.06.2019 03:30, fredvales19

Assume a hypothetical case where an industry begins as perfect competition and then becomes a monopoly. as a result of this change, a. consumer sur+ will be smaller, producer sur+ will be greater, and there will be a reduction in economic efficiency. b. consumer sur+ will be smaller and producer sur+ will be greater. there will be a net increase in economic sur+. c. price will be higher, consumer sur+ will be greater, and output will be greater. d. price will be higher, output will be lower, and the deadweight loss will be eliminated.

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Assume a hypothetical case where an industry begins as perfect competition and then becomes a monopo...