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a. How much profit does an unregulated monopolist earn? multiple choice 1 Profit represented by the rectangle (p A* p D* ) q A Zero

a. How much profit does an unregulated monopolist earn?

multiple choice 1

Profit represented by the rectangle (p_A* p_D*) q_A

Zero economic profit because the firm produces q_C, charging a price equivalent to its ATC (p_C)

Profit represented by the rectangle (p_D* p_D) q_D

Loss represented by the rectangle (p_B* p_B) q_B

b. How much profit would be earned if price efficiency (marginal cost pricing, p = MC) were imposed?

multiple choice 2

Profit represented by the rectangle (p_D* p_D) q_D

Loss represented by the rectangle (p_B* p_B) q_B

Profit represented by the rectangle (p_A* p_D*) q_A

Zero economic profit because the firm produces q_C, charging a price equivalent to its ATC (p_C)

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