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content area top Part 1 Suppose a monopoly is producing its profitminusmaximizing output level. Now suppose the government imposes a lumpminussum tax on the monopoly,

content area top Part 1 Suppose a monopoly is producing its profitminusmaximizing output level. Now suppose the government imposes a lumpminussum tax on the monopoly, independent of its output. As a result the monopolist will increase the price of its product to cover its higher cost. Question content area bottom Part 1 True False

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