The Following Figure Shows Revenue and Cost Curves of a Monopolist

question 117

Multiple Choice

The following figure shows revenue and cost curves of a monopolist. Figure 24.8 AR: Average revenue curve
MR: Marginal revenue curve
MC: Marginal cost curve
According to Figure 24.7, the deadweight loss of monopoly is:

• A)the area ABC.
• B)the area BCD.
• C)the area ACD.
• D)the area P₃P₂AC.
• E)the area P₃P₄DC.

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