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The following diagram illustrates the demand curve fac 1ng a monopoly in an industry with no economies or diseconomies of scale and no fixed costs.

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The following diagram illustrates the demand curve fac 1ng a monopoly in an industry with no economies or diseconomies of scale and no fixed costs. In the short and long run, MC = ATC. Copy the diagram and indicate the following: $ MC: ATC 0 Output, Q a. Optimal output b. Optimal price c. Total revenue C]. Total cost c. Total monopoly profits f. Total \"excess burden\" or \"welfare costs\" of the men _ (briey explain)

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