Benjamin is a monopolist. Critics claim that when he cut his costs (say, by reducing his labor costs), he kept all of the newfound savings to himself. (please draw out on a piece of paper and upload).

a. This is correct. Benjamin kept all of the cost savings as profits.

b. This is incorrect. Consumers reap benefits from the greater quantity sold only.

c. This is incorrect. Consumers reap benefits from the lower price only.

d. This is incorrect. Consumers reap benefits from both greater quantity sold and lower price.

e. This is incorrect. As consumer surplus falls