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Monopoly minimum atc

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Reference no: EM132414931

Assume the government regulates the price, p2, of an important consumer product. This regulated price is below the social optimal level, p1. The regulated price is also above the monopoly's minimum ATC. In a well labelled show how the following and compare them to those under the perfect competition model:

1. Price

2. Quantity sold

3. Quantity demanded

4. Consumer surplus

5. Producer surplus

6. Total surplus

7. Deadweight loss

Reference no: EM132414931

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