In Figure 17-4, Below, Initial Demand, Marginal Cost, and Marginal

question 164

Multiple Choice

In Figure 17-4, below, initial demand, marginal cost, and marginal revenue curves (none of them shown) caused the firm to produce the profit-maximizing quantity Y₀ at a price of P0. Now the demand and marginal cost curves have moved to those shown, with the marginal revenue curve running through point L.
Figure 17-4
-If the firm in the figure above maintains its set price of P0, rather than dropping price to P1, the loss of consumer surplus due to this decision is

• A) J + K.
• B) K - G.
• C) G + H.
• D) H + K.

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