Consider the same market described in Calculus Problem 1, but now assume that test preparation services are

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Consider the same market described in Calculus Problem 1, but now assume that test preparation services are monopolized. Also assume that the monopolist's costs are given by
C = 15Q + Q2/4
How does the monopoly output compare with the socially efficient output? Calculate the deadweight loss of monopoly. Draw a figure to illustrate your answer.
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Microeconomics

ISBN: 978-1118572276

5th edition

Authors: David Besanko, Ronald Braeutigam

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