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PART C features an essay-type question with three subparts and requires to provide a full analysis...

PART C features an essay-type question with three subparts and requires to provide a full analysis of the social cost of the output decision of a profit maximizing monopoly firm, assuming that the firm is the only producer in a market.
Thoroughly discuss:

3. Assuming that the government wants to set a price ceiling that maximizes the monopolist’s output, what price should the government set?
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