For Questions 33-35, refer to the graph below. Price Demand Quantity 33. In the

Question

For Questions 33-35, refer to the graph below. Price Demand Quantity 33. In the graph above, a monopolist is observed producing a quantity of Qa The deadweight loss in the monopoly market is which area(s)? a) Area A b) Area B c) Area C d) Area D e) Area B plus Area C 34. In the graph above, a monopolist is observed producing a quantity of Qa. The producer surplus in the monopoly market is which area(s)? a) Area A b) Area B c) Area C d) Area D e) Area B plus Area C 35. In the graph above, a monopolist is observed producing a quantity of Qo. The consumer surplus in the monopoly market is which area(s)? a) Area A b) Area B c) Area C d) Area D e) Area A plus Area B

Explanation / Answer

33.The option is D (Equilibrium is not achieved so there is dead weight loss)

34.The option is C,B(market price is at B and lowest price is at C)

35.The option isA

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