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Multiple choiceThe pure monopoly modelMaximum total surplus under equilibrium conditionsA single firm operating in a purely competitive industryAn industry in which there is productive efficiency

Multiple choiceThe pure monopoly modelMaximum total surplus under equilibrium conditionsA single firm operating in a purely competitive industryAn industry in which there is productive efficiency but not allocative efficiency

Pxl S = MC Px MC b 16 D D MR a 0 gh (A) (B) Refer to the diagrams. At price b and quantity a, diagram (A) represents

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