-Refer to Figure 9-8

question 99

Essay

-Refer to Figure 9-8. Use the figure above to answer the following questions.
a. Identify the curves labeled A and B. Identify the curve which contains both point Y and point Z. Identify the curve which contains both point V and point W.
b. What is the profit-maximising quantity and what price will the monopolist charge?
c. What area represents total revenue at the profit-maximising output level?
d. What area represents total cost at the profit-maximising output level?
e. What area represents profit?
f. What is the profit per unit (average profit) at the profit-maximising output level?
g. If this industry was organised as a perfectly competitive industry, what would be the profit-maximising price and quantity?
h. What area represents the deadweight loss as a result of a monopoly?

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Definitions:

Recasting

Recasting in language learning is a technique where an incorrect sentence is repeated back correctly by someone else, helping the learner notice and correct their mistake.

Language Acquisition

The process by which humans learn to perceive, recognize, and produce language, typically occurring in early childhood.

Echoing

The repetition or mimicking of words or sounds, often used as a learning tool or as a symptom of certain disorders.

Expanding

The act or process of increasing in size, volume, quantity, or scope.