Of the following, consumer surplus is largest for A) a ...

[crobinson2013]

Of the following, consumer surplus is largest for
 
  A) a perfectly competitive industry.
  B) a single-price monopoly.
  C) any price-discriminating monopoly.
  D) a perfectly price-discriminating monopoly.

Question 2

Increasing marginal returns means that as the firm expands its output, its
 
  A) long-run average total cost increases.
  B) long-run average total cost decreases.
  C) short-run average total cost increases.
  D) short-run average total cost decreases.

[brbarasa]

Answer to Question 1

A

Answer to Question 2

D