Assume Someone Organizes All Farms in the Nation into a Monopoly.Which

question 301

Multiple Choice

Assume someone organizes all farms in the nation into a monopoly.Which of the following occurs?
i.Consumer surplus decreases.
ii.Economic profit increases.
iii.A deadweight loss is created.

• A) i only
• B) ii only
• C) iii only
• D) i and ii
• E) i, ii, and iii

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