Suppose that Trey spends all of his income on vacation trips and textbooks. If the price of a trip is $200 and the price of a textbook is $50, then the slope of his budget line (assuming vacation trips are measured on the vertical axis) would be

A product is considered to be nonexcludable if

A) you cannot keep those who did not pay for the item from enjoying its benefits. B) it is jointly owned by all members of a community. C) your consumption of the product reduces the quantity available for others to consume. D) you can keep those who did not pay for the item from enjoying its benefits.

If an upstream monopoly and a downstream monopoly vertically integrate into a profit-maximizing monopoly, then the total amount of deadweight loss in the industry

A) will increase. B) will decrease. C) will remain unchanged. D) cannot be determined.