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Question 2: Draw a carefully labeled diagram with a market demand curve, a marginal revenue curve, and a monopolist MC curve. Indicate the quantity the
Question 2: Draw a carefully labeled diagram with a market demand curve, a marginal revenue curve, and a monopolist MC curve. Indicate the quantity the monopolist will produce, the price they will charge, the consumer surplus, producer surplus, and deadweight loss. Why is there a deadweight loss? Answers with no graph or a graph that is not clearly labeled will receive no credit.
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