FIGURE 12- 3 $$10$$ -Refer to Figure 12- 3

question 81

Multiple Choice

FIGURE 12- 3 $$10$$
-Refer to Figure 12- 3.Comparing the perfectly competitive equilibrium to the monopoly equilibrium,the reduction in consumer surplus due to monopoly is outlined by

• A)P2P3E.
• B)q1CEq2.
• C)BCE.
• D)P2ECP3.
• E)P2EP4.

---

Definitions:

1861

The year that marked the beginning of the American Civil War, following the secession of several southern states from the Union.

Lincoln

The 16th President of the United States, Abraham Lincoln, known for leading the country during the Civil War and abolishing slavery.

1860 Election

The presidential election in which Republican Abraham Lincoln defeated three other candidates, leading to the secession of Southern states.

Presidential Candidate

A person who is nominated or runs for election to the office of the President.