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Advanced Placement (AP), 12.05.2021 01:20 jackvj4959

The allocatively efficient quantity of widgets for the whole market is 10 million units. At that quantity, the demand for widgets is at $10. However, the single supplier of widgets is producing 5 million units and charging $20 per widget. Based on this data, the market for widgets is a monopoly
an oligopoly
productively efficient
operating at minimum efficient scale
experiencing economic losses

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