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Question
Refer to the above figure. Suppose this industry was perfectly competitive and then merged into one monopolistic firm. The monopoly would
A) raise price from P1 to P2.
B) reduce output from Q3 to Q1.
C) reduce output from Q2 to Q1 and raise price from P3 to P4.
D) raise price from P1 to P4.
Answer
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Related questions
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