Refer to Figure 15-14. From the monopoly graph above, identify the following:
a. The profit maximizing price
b. The profit maximizing quantity
c. The area representing deadweight loss
d. The area representing the transfer of consumer surplus to the monopoly
a. Price = P3
b. Quantity = Q1
c. Deadweight loss = area C + D
d. Transfer of consumer surplus to the monopoly = area A
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Refer to the table below. Which of the following statements is correct?
The following table shows the foreign currency per U.S. dollar near the end of January of each year listed.
A. From 2002-2003, the Australian dollar depreciated in value relative to the U.S. dollar
B. From 2003-2004, the Australian dollar appreciated in value relative to the U.S. dollar
C. From 2001-2002, the Japanese yen appreciated in value relative to the U.S. dollar
D. From 2003-2004, the Japanese yen depreciated in value relative to the U.S. dollar
A decrease in the price level
A) shifts the AD curve to the right.
B) shifts the AD curve to the left.
C) causes an upward movement along the existing AD curve.
D) causes a downward movement along the existing AD curve.
E) none of the above