7) Assume that the dairy industry is initially in a perfectly competitive equilibrium. Assume that, in the long run, the technology is such that average cost is constant at all levels of output. Suppose that producers agree to form an association and behave as a profit- maximizing monopolist. Explain clearly in a diagram the effects on (a) market price, (b) equilibrium output, (c) economic profit, (d) consumer surplus, and (e) efficiency.

Q: Please answer #3e,f and g please.

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A: Answer is given below

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Q: barrier to entry that is not government-enforced, or a

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A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

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A: *Hi there , as you have posted multiple question we will only solve first one as per our guidelines…

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A:

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Q: Can you help me solve this please?

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: 1. There are two mobile phone firms operating in a market; FF (Firm 1) and Wodaphone (Firm 2). The…

A: * SOLUTION :-    Given that ,    The market demand  is  P = 75-0.5(Q1+Q2) The total cost of first…

Q: (9) Suppose the market for tennis shoes has one dominant firm and five fringe firms. The market…

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A: Market structure refers to different types of market that operates in an economy. These market…