In the above figure, if a single-price monopolist charges the ...

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In the above figure, if a single-price monopolist charges the profit-maximizing price, the triangle dce represents
 
  A) consumer surplus.
  B) producer surplus.
  C) deadweight loss.
  D) marginal revenue.

Question 2

The above figure shows the cost curves for a perfectly competitive firm. If all firms in the market have the same cost curves and the price equals 16 per unit
 
  A) the market is in its long-run equilibrium.
  B) over time, firms will leave this market.
  C) the firm is making zero economic profit.
  D) over time, the price will fall as new firms enter the market.

[Juro]

Answer to Question 1

C

Answer to Question 2

D

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[Juro]

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