Differ from a monopoly from the consumer point of view

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If all of the farmers who produce oranges get together and make a deal with the government to establish best price and output levels for the orange industry such that profits are maximized for the entire industry, what would the profits look like on a graph with a constant MC = AC for orange production? In the real world, would all of the orange industry profits go to the farmers? In the real world, what is this situation called and how does this differ from a monopoly from the consumer point of view?

Reference no: EM13692476

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