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Explain how a price control on a monopolist

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Reference no: EM132290471

a) Explain how a price control on a monopolist can be used to lower the deadweight loss. What kind of price control (ceiling,floor) would it need to be?

b) Does this kind of price control necessarily reduce the deadweight loss from monopoly? Explain why or why not?

c) What is the marginal revenue curve for the monopolist with price control?

Reference no: EM132290471

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