The monopolist's total revenue curve is represented graphically by a positively sloped line.

Which of the following describes the infant industry argument for protectionism?

A) Domestic producers require time to gain experience and lower their unit costs; this will allow these producers to compete successfully in international markets. B) Domestic producers in high-wage countries must be protected from foreign producers in low-wage countries to produce a level playing field. C) An industry must be protected in its early stages of development so that firms can compete with government-subsidized foreign competition. D) Some strategic industries must be protected to ensure adequate supplies of resources needed for national defense in emergencies.

Suppose the market price of zinc doubles. Which of the following scenarios is most likely?

A) The demand for zinc miners will increase, raising the market wage rate. B) The demand for zinc miners will decrease, reducing the market wage rate. C) The demand for zinc will increase, raising the market price further. D) The demand for zinc miners will decrease, reducing the market price back to its original price.