Select 2 correct answer Examine whether a monopoly brings an efficient outcome in the market in which itoperates.P. Cost (S)P. Cost (S)S= MCS-MCD-MBMRQuatry ('1Quantity )b) Perfect Compertition) MonopolyAfter finding the equilibrium point in a perfectly competitive market and theequilibrium point in a monopolistic market, please(1) State whether the consumer surplus (CS) and producer surplus (PS) expand orshrink, when we evaluate a perfectly competitive market outcome with the outcomeof a pure monopoly.After finding the equilibrium point in a perfectly competitive market and theequilibrium point in a monopolistic market, please(1) State whether the consumer surplus (CS) and producer surplus (PS) expand orshrink, when we evaluate a perfectly competitive market outcome with the outcomeof a pure monopoly.Select 2 correct answer(s)O (a) CS is unchangedCSPC = CSM(b) CS increases (or expands) -→ CSPC > CSMUc) CS decreases (or shrinks)CSPC < CSMO (d) PS is unchangedPSPC = PSM(e) PS increases (or expands) - PSPC > PSMU (f) PS decreases (or shrinks) PSPC < PSM

In perfect competition, eqm Q(quantity) is found by the intersection of MC(marginal cost) and…

S-MC S-MC D-MB D-MB Quatity Quanty 1 b) Perfect Comprotion Mouspoly nding the equilibrium point in a perfectly competitive market and the ium point in a monopolistic market, please e whether the consumer surplus (CS) and producer surplus (PS) expand or when we evaluate a perfectly competitive market outcome with the outc: re monopoly.

S-MC S-MC D-MB D-MB Quatity Quanty 1 b) Perfect Comprotion Mouspoly nding the equilibrium point in a perfectly competitive market and the ium point in a monopolistic market, please e whether the consumer surplus (CS) and producer surplus (PS) expand or when we evaluate a perfectly competitive market outcome with the outc: re monopoly.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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