The market for good X was in a situation of perfect competition, until a license to operate was delivered to only one firm, making it a monopoly. What will be the impact on the market (assuming the cost of producing the good is the same for the firm with the license as for all other firms that are now excluded from producing)?

1. Producer surplus of the licensed firm will be higher
2. All of the other answers
3. Consumer surplus will be lower
4. The quantity produced of good X will decrease
5. Consumers will face a higher price for good X