Use the Following to Answer Question

question 235

Multiple Choice

Use the following to answer question:
Figure: The Monopolist III
-(Figure: The Monopolist III) Look at the figure The Monopolist III. If this monopolist profit-maximizes, it will produce _____ units and charge a price equal to _____. Its producer surplus will be _____, its consumer surplus will be _____, and the deadweight loss is _____.

• A) 50; $30; $1,200; $600; $100
• B) 35; $65; $1,225; $612.50; $612.50
• C) 100; $65; $1,500; $615.50; $1,000
• D) 70; $35; $1,225; $615.50; $615.50

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Definitions:

Agreements

Contracts formed between two or more parties outlining terms and conditions regarding a specific matter or transaction.

Contracts

Legally binding agreements between two or more parties that outline terms and conditions for the exchange of services, goods, or obligations.

Equitable Remedy

A type of judicial relief that requires a party to act or refrain from acting in a certain way, often employed when monetary damages are insufficient for justice.

Imposed

Something that is enforced or applied authoritatively, often without the consent of those affected.