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frosja888 [35]
2 years ago
14

Suppose that the government decides to regulate this natural monopolist by requiring the firm to charge a price of P2. Which is

true if the government takes this approach
Business
1 answer:
Natali5045456 [20]2 years ago
7 0

If the government takes this approach, consumer surplus would increase.

A monopoly is when there is only one firm operating in an industry. A natural monopoly occurs when there is a high start-up cost associated with opening a business or a firm enjoys economies of scale.

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good. As the price of a good declines, consumer surplus increases. P2 is lower than P1, this means that if price is regulated to P2, consumer surplus would increase.

Please find attached the graph required to answer this question. To learn more, please check: brainly.com/question/15415230

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