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Draw two models, a monopoly market (price-setters) and a perfectly competitive market (price-takers). On each of your models show the equilibrium point and show any

Draw two models, a monopoly market (price-setters) and a perfectly competitive market (price-takers). On each of your models show the equilibrium point and show any areas of consumer surplus, producer surplus and deadweight loss. Label all relevant axes, points and curves on your model.

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