The Demand Supply model shown is of the mobile phone market in Australia with several companies fiercely competing. Over time, because there is no Government regulator to prevent it, a monopoly now dominates the market. Which of the following statement/s describe the situation? Marks will be deducted for wrong answers. Select one or more: a. Price of mobile phones will rise above $400 each. b. A reduction in the number of sellers will shift the supply curve to the RIGHT. c. Nothing will change as equilibrium price and quantity remain as they are. d. A reduction in the number of sellers will shift the supply curve to the LEFT. e. Price of mobile phones will fall to below $400