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Please graph the following: 1. A monopoly earning short-run profits (shaded), showing deadweight loss and consumer surplus. 2. A monopoly producing with short-run losses (shaded).
Please graph the following:
1. A monopoly earning short-run profits (shaded), showing deadweight loss and consumer surplus.
2. A monopoly producing with short-run losses (shaded).
3. A monopoly in a short-run shut-down position.
4. A monopolistically-competitive firm in long-run equilibrium.
5. A game theory 2x2 payoff matrix showing dominant strategies and a Nash Equilibrium (different than airline example).
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