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4. Use the graph above to answer the following questions. (i) If the market depicted in the graph were a competitive market, what would be

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4. Use the graph above to answer the following questions. (i) If the market depicted in the graph were a competitive market, what would be the market price and quantity? How much deadweight less would exist? (ii) If the market depicted in the graph were a monopoly, what price would be charged and quantity sold? How much deadweight loss would exist

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