-The figure above shows the demand curve,marginal revenue curve,and marginal cost curve.The amount of consumer surplus when the market has a monopoly producer is ________ and the amount of consumer surplus when the market is perfectly competitive is ________.
A) abf; ace
B) abf; bcd
C) ace; bcd
D) ace; abf
E) bcd; ace

Question

-The figure above shows the demand curve,marginal revenue curve,and marginal cost curve.The amount of consumer surplus when the market has a monopoly producer is ________ and the amount of consumer surplus when the market is perfectly competitive is ________.
A) abf; ace 
B) abf; bcd 
C) ace; bcd 
D) ace; abf 
E) bcd; ace

Quizplus · Accepted Answer

In a monopoly, consumer surplus is the area above the price and below the demand curve, which is abf. In perfect competition, consumer surplus is the area above the price and below the demand curve up to the competitive quantity, which is ace.

-The Figure Above Shows the Demand Curve,marginal Revenue Curve,and Marginal