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Suppose a Perfectly Competitive Industry Is Suddenly Transformed into a Monopoly

Question 191

Multiple Choice

Suppose a perfectly competitive industry is suddenly transformed into a monopoly industry.We can assume that monopoly output will be _____ than will the competitive output and that _____.


A) higher;deadweight loss will emerge
B) lower;consumer surplus will increase
C) lower;deadweight loss will emerge
D) higher;consumer surplus will decrease

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