Economics

Assume that there is a perfect competition market for a good X. If one supplier all of a sudden wins the lottery and buys all the other firms that make good X and turns this market into a monopoly. Describe to me the difference in price and total output for good X between the perfect competition model and its new monopoly structure model.

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  1. Try some of the following links on "monopoly" products:

    http://www.google.com/search?q=difference+in+price+of+a+perfect+comopetition+model+%26+the+new+monopoly+structure+model&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

    Sra

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