Question

2. Monopoly power increases when
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Answer 1

Explanation:

Less consumer surplus. A rise in price or lower output would lead to a loss of consumer surplus. ... Over time monopolist can gain power over the consumer, which results in an erosion of consumer sovereignty.

Answer 2

Answer:

Less consumer surplus. A rise in price or lower output would lead to a loss of consumer surplus. ... Over time monopolist can gain power over the consumer, which results in an erosion of consumer sovereignty.