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Suppose the lawn mowing industry approximates a perfectly competitive industry. Suppose also that a single firm buys all of the assets of the lawn mowing
Suppose the lawn mowing industry approximates a perfectly competitive industry. Suppose also that a single firm buys all of the assets of the lawn mowing firms and establishes a monopoly.. Contrast these two market structures with respect toprice, output and allocation of resources. Draw a graph of the marketdemand andmarket supplyfor lawn mowingservicesbefore and afterthe takeover.
Would expect the monopoly to survive?
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