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Suppose the lawn mowing industry approximates a perfectly competitive industry. Suppose also that a single firm

buys all of the assets of the lawn mowing firms and establishes a monopoly.. Contrast these two market structures with respect to price, output and allocation of resources. Draw a graph of the market demand and market supply for lawn mowing services before and after the takeover. 

Would expect the monopoly to survive? 

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Comaparison of monopoly and perfect competition.png

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