Refer to the figure below. For demand curve D1, what is the price elasticity of demand when P = 12? 

Marginal revenue, average revenue, and price are all equal for a monopolist

a. True b. False

Suppose that a per-unit subsidy is granted to each individual who consumes a product providing external benefits to society at large. Each individuals demand curve will shift ________, and the market demand curve for the product will shift ________

A) to the right; to the right B) to the right; to the left C) to the left; to the left D) to the left; to the right