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Draw the demand-marginal-revenue-average-total-cost

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i. Draw the demand, marginal-revenue, average-total-cost, and marginal-cost curves for a monopolist. Show the profit-maximizing level of output, the profit-maximizing price, and the amount of profit. Show the level of output that maximizes total surplus.

ii. Show the deadweight loss from the monopoly. Explain your answer.

Reference no: EM132603598

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