Economics 1st Edition by Dean Karlan,Jonathan Morduch

تمرين 10

Suppose a new product is developed and is supplied by a monopolist with a patent. Compared with the monopoly outcome, indicate whether consumer surplus, producer surplus, and total surplus increase, decrease, or remain the same under the following scenarios.
a. Another producer creates a similar product and colludes with the original producer.
b. Another producer creates a similar product and competes with the original producer.
c. The patent expires.