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content area Part 1 Suppose firms in a monopolized market are earning economic profits and a second firm, producing a slightly different product, enters the
content area Part 1 Suppose firms in a monopolized market are earning economic profits and a second firm, producing a slightly different product, enters the market. Which of the following does not explain why the monopolist's profits fall? A. The market price drops. B. The monopoly's average cost of production increases. C. The quantity produced by the monopoly firm decreases. D. The monopoly moves upward along its positively sloped average-cost curve
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