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Determining the monopoly market equilibrium

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Moving Equilibrium. Show the effect of each on the monopoly market equilibrium; you don't need to have exact answers but explain the direction of change in the demand and/or marginal cost curves.

1. Beef prices rise.

2. There is blight, and carrots are in short supply at higher prices.

3. Taylor loses her good pastry chef. The new chef is hired at the same wage but the crème brûlée quality is off.

4. A local restaurant reviewer praises the quality of her boeuf.

Reference no: EM131270295

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