Question: (i) At the competitive equilibrium, why is there an incentive for the firms (the suppliers) to form a monopoly? (ii) At the competitive equilibrium, why

(i) At the competitive equilibrium, why is there an incentive for the firms (the suppliers) to form a monopoly?

(ii) At the competitive equilibrium, why is there an incentive for the consumers (the buyers) to form a monopsony?

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