q3

Suppose a technological development made production easier in a market that used to be a monopoly. The lower barrier to entry means the market is now monopolistic-competitive. What changes can we expect to see take place in the market, in terms of prices of the product, costs to the firm, and production levels?Question 4 1 pts Suppose society decides a monopoly must produce at an allocationy efficient level. The market is then regulated so that the product price is equal to marginal cost (P = MC), we call this the: O Marginal Cost Price O Social Construct Price O Forced-Return Price O Monopoly Market Price O Socially Optimal Price O Fair-Return Price Question 5 1 pts Suppose a society does not want to subsidize a monopoly that's producing at an allocationy efficient level with high average costs. However, they are also unwilling to allow the monopoly to set its own production level. This "Fair-Return Price" level occurs when: O MR = ATC O P = MR O MR = MC O P = MC O P = ATC