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What do areas B, C, and D represent in the following diagram? The monopolist produces at Qm and charges a price Pm. A perfectly competitive

What do areas B, C, and D represent in the following diagram? The monopolist produces at Qm and charges a price Pm. A perfectly competitive firm produces at Qc and charges a price Pc. (3 marks)

Price MC Pm 100 C D Pc - B A Demand Qm QC Quantity MR

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