Question 1
Refer to the information provided in Figure 13.9 below to answer the question(s) that follow.
Refer to Figure 13.9. If Ohio Edison is forced to act as a perfect competitor (instead of the monopoly level), ________ is
BEC.
◦ the welfare loss
◦ consumer surplus
◦ the net social gain
◦ producer surplus
Question 2
Refer to the information provided in Figure 13.9 below to answer the question(s) that follow.
Refer to Figure 13.9. If this industry was originally perfectly competitive and becomes monopolized, the amount of ________ transferred to Ohio Edison in the form of profits is
FGBE.
◦ consumer surplus
◦ producer surplus
◦ welfare loss
◦ net social gain
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