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Assume that the producer of beautiful cars is a monopoly (i.e., there is only one seller in the market) On your diagram from part (a)

Assume that the producer of beautiful cars is a monopoly (i.e., there is only one seller in the market)

On your diagram from part (a) clearly label consumer surplus, producer surplus and the dead weight loss. Explain whether this car market outcome is Pareto efficient?

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