In the figure above: A) triangle ABC represents the welfare loss to the society because of the monopoly in the market. B) if the firm is producing an amount Q_C (point C), it is maximizing profit because MC = AC at that point. C) point B, where MR = MC, represents the point where the difference between total revenue and total cost is the largest. D) point A, where MR = AC, represents the point where the difference between total revenue and total cost is the largest.

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The Answer of In the figure above: A) triangle ABC represents the welfare loss to the society because of the monopoly in the market. B) if the firm is producing an amount Q_C (point C), it is maximizing profit because MC = AC at that point. C) point B, where MR = MC, represents the point where the difference between total revenue and total cost is the largest. D) point A, where MR = AC, represents the point where the difference between total revenue and total cost is the largest.

In the Figure Above