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When a perfectly competitive industry is taken over by a monopoly, some consumer surplus is transferred to the monopolist in the form of economic profit marginal cost deadweight loss

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

When a perfectly competitive industry is taken over by a monopoly, some consumer
surplus is transferred to the monopolist in the form of
economic profit
marginal cost
deadweight loss

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