We already know what the standard monopoly graph looks like. Academically speaking, what does a government run monopoly graph for Social Security and Medicare look like?

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter11: Price-searcher Markets With High Entry Barriers
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We already know what the standard monopoly graph looks like. Academically speaking, what does a government run monopoly graph for Social Security and Medicare look like?

 

Mulitple Choice

 

a. In Microeconomics the government doesn't have a monopoly graph and they don't use the MC=MR formula

 

b. The government uses the Price = AFC graph

 

c. The government uses the cartel graph to represent government-run programs

 

d. In Microeconomics the government uses the same monopoly graph as business and they use the MC=MR formula

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