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Chad is a monopolist and sells pies. Chad's cost function is c(y)=y, MC(y)=1, and the inverse demand function for pies is p(y)=9-y, where p is
Chad is a monopolist and sells pies. Chad's cost function is c(y)=y, MC(y)=1, and the inverse demand function for pies is p(y)=9-y, where p is price and y is the number of pies. If Chad cannot price discriminate, what is the consumers' surplus obtained by Chad's buyers?
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