Exhibit 9-11 -In Exhibit 9-11, for a Monopolist That Does Not Price

question 188

Multiple Choice

Exhibit 9-11
-In Exhibit 9-11, for a monopolist that does not price discriminate, consumer surplus at the profit-maximizing level of output is

• A) the area under the demand curve bounded above a price of $136
• B) the area under the demand curve bounded by average total cost of $110
• C) the area under the marginal revenue curve bounded by a marginal revenue of $60
• D) $0
• E) equal to total consumer expenditure

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Definitions:

Prices Increase

A situation where the cost of goods and services rises over a period, reducing purchasing power.

Income

refers to money received, especially on a regular basis, for work or through investments.

Pizza

A popular dish of Italian origin, consisting of a round, flattened base of leavened wheat-based dough topped with tomatoes, cheese, and various other ingredients, baked at a high temperature.

Books

Bound printed works consisting of written or illustrated pages, typically used for reading or study.