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Social Scienceil Verizon7 92%10:27 AMBack Handout4_Mono...Revenueand costper unit$30MC24ATC2220.802018DemandMR06283104QuantityFigure 15-2 shows the cost and demand curves for a monopolist4) Refer to Figure 15-2. Assume the firm maximizes its profits. What is the amount of consumersurplus?A) $21B) $124C) $186D) $3325) Refer to Figure 15-2. What is the amount of consumer surplus if, instead of monopoly, theindustryA) $21B) $124C) $186D) $332organizedperfectly competitive industry?wasas aorganized6) Refermarket output and market price would beA) output 62; price = $24.B) output 83; priceC) outputD) output 104; price = $20.80Figure 15-2. If this industryperfectly competitive industry, thetowereas a$22=62; price= $187) Refer to Figure 15-2. If the firm maximizes its profits, the deadweight loss to society due tothis monopoly is equal to the areaA) ABF.В) ABEG.C) ACED) EFG.7NotificationsDashboardCalendarInboxTo Do
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il Verizon 7 92% 10:27 AM Back Handout4_Mono... Revenue and cost per unit $30 MC 24 ATC 22 20.80 20 18 Demand MR 0 62 83 104 Quantity Figure 15-2 shows the cost and demand curves for a monopolist 4) Refer to Figure 15-2. Assume the firm maximizes its profits. What is the amount of consumer surplus? A) $21 B) $124 C) $186 D) $332 5) Refer to Figure 15-2. What is the amount of consumer surplus if, instead of monopoly, the industry A) $21 B) $124 C) $186 D) $332 organized perfectly competitive industry? was as a organized 6) Refer market output and market price would be A) output 62; price = $24. B) output 83; price C) output D) output 104; price = $20.80 Figure 15-2. If this industry perfectly competitive industry, the to were as a $22 = 62; price = $18 7) Refer to Figure 15-2. If the firm maximizes its profits, the deadweight loss to society due to this monopoly is equal to the area A) ABF. В) ABEG. C) ACE D) EFG. 7 Notifications Dashboard Calendar Inbox To Do
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Consumer Surplus: It is the overall benefit that consumer receives by...
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