Suppose a perfectly competitive market is suddenly transformed into one that operates as a monopoly market.We would expect:
A.price to rise, output to fall, consumer surplus to rise, producer surplus to rise, and deadweight loss to fall.
B.price to rise, output to fall, consumer surplus to fall, producer surplus to fall, and deadweight loss to rise.
C.price to rise, output to fall, consumer surplus to fall, producer surplus to rise, and deadweight loss to rise.
D.price to fall, output to rise, consumer surplus to rise, producer surplus to fall, and deadweight loss to fall.

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The Answer of Suppose a perfectly competitive market is suddenly transformed into one that operates as a monopoly market.We would expect:
A.price to rise, output to fall, consumer surplus to rise, producer surplus to rise, and deadweight loss to fall.
B.price to rise, output to fall, consumer surplus to fall, producer surplus to fall, and deadweight loss to rise.
C.price to rise, output to fall, consumer surplus to fall, producer surplus to rise, and deadweight loss to rise.
D.price to fall, output to rise, consumer surplus to rise, producer surplus to fall, and deadweight loss to fall.

Suppose a Perfectly Competitive Market Is Suddenly Transformed into One