economic question?? please help!!

Posted on 2014-11-19 10:06:00 in Economics by MICHEL

1. In the figure above, consumer surplus for the competitive market is

A) the area P1P2CB.

B) the area BCE.

C) the area AP2C.

D) the area ACF.

E) the area AP1B.

2. In the figure above, consumer surplus in the monopoly situation is

A) the area BCF.

B) the area 0FQ1.

C) the area P1P2CE.

D) the area AP2C.

E) the area ACF.

3. Refer to the figure above. If the competitive industry is monopolized, then the area __________ represents the consumer surplus that is transferred to the monopolist.

A) ABF.

B) P1P2CB.

C) ACEP1.

D) P1P2CE.

E) ACP2.

4.  In the figure above, producer surplus for the competitive market is

A) the area 0AB.

B) the area 0BQ2.

C) 0.

D) the area 0P1B.

E) the area P1AB.

5. In the figure above, what is the resulting deadweight loss if the competitive industry is monopolized?

A) The area BCGF.

B) The area BCE.

C) The area BCF.

D) The area P1P2CE.

E) The area BEF.

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