Use the Following Table to Answer the Question : Table

question 14

Multiple Choice

Use the following table to answer the question : Table 15-2: shows the marginal revenue curve [MR],the demand curve,and the marginal cost curve [MC] for a monopolist with constant costs.

-Suppose that the market in Figure 15-2 were served by an oligopoly such that the equilibrium output was 450.Then the welfare loss would be _____ as compared to the welfare loss of _____ under monopoly.

• A)$37.50;$150
• B)$75;$150
• C)$37.50;$450
• D)$75;$450

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Definitions:

Involuntarily

Occurring without one's consent or control.

Dangerousness

The potential to cause harm, injury, or damage to others or oneself.

Mental Illness

A broad range of conditions affecting mood, thinking, and behavior, often associated with distress or problems functioning in social, work, or family activities.

Guilty but Mentally Ill

A legal verdict stating the defendant is guilty of the crimes committed, but was mentally ill at the time of the offense.