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Short-Answer Questions (5 points each) Employ no more than the equivalent of two-thirds of a page of 14-point, doublespaced text in order to answer each
Short-Answer Questions (5 points each) Employ no more than the equivalent of two-thirds of a page of 14-point, doublespaced text in order to answer each part of Question 1. a. Firm 1 produces products A and B. It is a monopolist of A, but is only one of many perfectly competitive firms in the market for B. Assume that Firm 1 can extract all the consumer surplus in the A market, under independent pricing. U
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