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Show the market for some good where the seller is a monopolist.Indicate the price and quantity that the monopolist will choose and the efficient quantity
Show the market for some good where the seller is a monopolist.Indicate the price and quantity that the monopolist will choose and the efficient quantity (make sure they are labeled clearly!).
Also show consumer and producer surplus (profit) and the dead weight loss.
(Note: this requires you to include a certain curve that without it would not be possible to know whether you are indicating the proper profit-maximizing quantity.)
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