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In the above gure, the left hand side graph represents a perfectly competitive industry and the right hand side graph represents a perfectly competitive rm. Suppose that the original demand curve is Do, as labeled. Due to an increase in income, the demand curve shifts to the right. Then, 0 the rm will expand output. 0 the rm will decrease output. 0 the rm will be making zero economic prot. 0 the rm will go out of business. V In the above figure, the left hand side graph represents a perfectly competitive industry and the right hand side graph represents a perfectly competitive firm. As the demand curve increases from Do to D1, the firm's output increases from 8 to 9. the firm's output increases from 9 to 11. the firm's output decreases from 11 to 9. the firm's output decreases from 9 to 8.A monopolist faces a demand curve given by: P = 210 5Q, where P is the price of the good and Q is the quantity demanded. The marginal cost of production is constant and is equal to $60. There are no xed costs of production. What is the deadweight loss associated with this monopoly? 0 $281.25. 0 $562.50. 0 $1125. 0 $2250. 0 None of the Above. Question 18 3 pts In the United States, a patent is currently granted for a period of Q 10 years. 0 17 years. 0 20 years. 0 22 years. 0 25 years. (b) Q (c) (d) Which graph above shows a firm's short run marginal cost curve? O (a) O (b) O (c) O (d)