Goods and services bought by the government account for about ________ percent of total production

Consider the following cost information for a monopolist: its MR = $15, its MC = $23, and it is producing 9 units of output. Which of the following statements is correct?

a. The monopolist should produce and sell 9 units of output. b. The monopolist should increase production of output. c. We need more information to decide if the firm needs to produce. d. The monopolist should not produce this output because MR < MC.

If the price floor of a market is raised, which of the following would happen?

a. The consumer surplus would increase, the producer surplus would decrease and the dead weight loss would decrease b. The consumer surplus would decrease, the producer surplus would decrease and the dead weight loss would increase c. The consumer surplus, the producer surplus and the dead weight loss would all decrease d. The consumer surplus, the producer surplus and the dead weight loss would all increase e. The consumer surplus would decrease, the producer surplus would increase and the dead weight loss would increase