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Student Name:Raina Datta Inadequate Competition Formulas, work, and analysis must be shown to earn points. 1. Draw a graph of a typical natural monopoly with

Student Name:Raina Datta

Inadequate Competition

Formulas, work, and analysis must be shown to earn points.

1. Draw a graph of a typical natural monopoly with declining costs.

Label monopoly price and quantity. Identify the area of deadweight loss when the monopoly chooses the profit-maximizing level of output.

Label marginal cost price and quantity.

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