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Can you provide me an explanation for the following questions? It is a profit maximizing monopoly firm 1.The concept of social cost in terms of
Can you provide me an explanation for the following questions? It is a profit maximizing monopoly firm
1.The concept of social cost in terms of the output decision of a monopoly firm;
2.The government forces a monopoly firm to lower its price, can you show me how the output of the firm would increase?
3.If the government wants to set a price ceiling that maximizes a monopolist's output, what price should the government set?
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