Suppose a perfectly competitive industry is suddenly transformed into a monopoly industry.We can assume that monopoly output will be than the competitive output and that
________.
A.higher; deadweight loss will emerge
B.lower; consumer surplus will increase
C.lower; deadweight loss will emerge
D.lower; consumer surplus will decrease

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The Answer of Suppose a perfectly competitive industry is suddenly transformed into a monopoly industry.We can assume that monopoly output will be than the competitive output and that
________.
A.higher; deadweight loss will emerge
B.lower; consumer surplus will increase
C.lower; deadweight loss will emerge
D.lower; consumer surplus will decrease

Suppose a Perfectly Competitive Industry Is Suddenly Transformed into a Monopoly