Using the principle of vertical equity, it is easy to argue in favor of _____

Refer to Figure 9-3. What is the area of consumer surplus after the imposition of the quota?

A) A B) G + H C) A + G + H D) G + H + E + I+ J + M

If a perfectly competitive industry is taken over by a monopolist, the market price will rise

a. due to improvements in technology b. assuming that technology is unchanged c. and output will rise d. unless barriers to entry are imposed e. until they equal marginal revenue