The total cost of production is measured by the sum of fixed and variable costs

The producer surplus to a monopolist must be

A) less than zero or the firm is in violation of anti-trust statutes. B) at least as great as the producer surplus in a competitive market. C) positive, otherwise why would the monopoly produce? D) the same as for a competitive market.

Beginning at the vertical axis intercept, as a consumer moves down the budget line, she will find that

a. the marginal utility per dollar spent on the vertical axis good decreases b. the marginal utility per dollar spent on the vertical axis good increases c. the marginal utility per dollar spent on the horizontal axis good increases d. the marginal utilities per dollar spent on both goods increase e. the marginal utilities per dollar spent on both goods remain constant along that particular budget line