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Use two separate charts to represent a) perfect competition; and b) monopoly. At the very least,...

Use two separate charts to represent a) perfect competition; and b) monopoly. At the very least, each chart should show the MSB, MSC and MR curves to illustrate and identify consumer surplus, producer surplus, and deadweight loss (if there is any).

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Chart a) perfect competition (8 pts)

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Chart b) monopoly (8 pts)

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Answer c) which is more efficient? Why? (4 pts)

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