Refer to the information provided in Figure 13.9 below to answer the question(s) that follow. Figure 13.9
-Refer to Figure 13.9. If Ohio Edison is forced to act as a perfect competitor (instead of the monopoly level), ________ is BEC.
A) the welfare loss
B) consumer surplus
C) the net social gain
D) producer surplus

Question

Refer to the information provided in Figure 13.9 below to answer the question(s) that follow.  Figure 13.9
-Refer to Figure 13.9. If Ohio Edison is forced to act as a perfect competitor (instead of the monopoly level), ________ is BEC.
A) the welfare loss 
B) consumer surplus 
C) the net social gain 
D) producer surplus

Quizplus · Accepted Answer

The net social gain is represented by the area BEC when Ohio Edison is forced to act as a perfect competitor, as it reflects the increase in total welfare from eliminating the deadweight loss associated with monopoly pricing.

Refer to the Information Provided in Figure 13