Suppose FIGURE 1 shows a perfectly competitive industry and a monopoly industry together. Find the deadweight...

  

Transcribed Image Text:

Suppose FIGURE 1 shows a perfectly competitive industry and a monopoly industry together. Find the deadweight loss from the industry converting from perfect competition to monopoly. (Hint: recall the deadweight loss is shown by a triangle). FIGURE 1 PRICE 30 MC 20 2222 23 15 12 10 ATC MR QUANTITY Suppose FIGURE 1 shows a perfectly competitive industry and a monopoly industry together. Find the deadweight loss from the industry converting from perfect competition to monopoly. (Hint: recall the deadweight loss is shown by a triangle). FIGURE 1 PRICE 30 MC 20 2222 23 15 12 10 ATC MR QUANTITY