Figure 6 Use the following figures to Px Px answer the following S = MC MC questions: 41. Refer to the diagrams. The socially optimum price MR is: 0 QX g n QX ( A ) (B) E) Both a and e A) a C) e B) d D ) f 42. Refer to the above diagrams. With the industry structure represented by diagram: A) (A) output will be less than in diagram (B). B) (A) there will be allocation inefficiency. C) (B) economic profit can persist in the long run. D) (B) output will be the same as in diagram (A). E) None of the choices 43. Refer to the above diagrams. Diagram (B) represents: A) the pure competition model. D) an industry in which there is allocati B) a collusive oligopoly efficiency but not productive efficiency. C) a long-run constant-cost industry. E) None of the choices 44. Refer to the above diagrams. If firms choose to maximize profit, the industry structure represented by diagram: A) (A) price equals marginal cost, resulting in allocation efficiency. B) (B) equilibrium price and quantity will be e and h, respectively. C) (A) there will be only a normal profit in the long run, while in (B) a fair return price will be chosen D) (B) price exceeds marginal cost, resulting in allocation efficiency. E) All of the choices 45. Refer to Figure 6, If both scenarios choose to maximize profit, which of the following is true? A) The consumer surplus in (A) is greater than (B) B) Firm B is currently not price discriminating C) Firm B will only operate in the elastic segment of the demand curve D) All of the choices E) None of the choices