Suppose that Verizon Wireless has hired you as a consultant to determine what price it should set for calling services. Suppose that an individual's inverse demand for wireless services in the greater Boston area is estimated to be P = 100 ? 33Q and the marginal cost of providing wireless services to the area is $1 per minute. Compute consumer surplus when Verizon Wireless charges an optimal two-part price.

________: a branch of economics that focuses on the broad aggregates, such as the growth of gross domestic product, the money supply, the stability of prices, and the level of employment

Fill in the blank(s) with correct word

If economies of scale are relatively unimportant in an industry, the typical firm's long-run average total cost curve will reach a minimum at a level of output that is a ________ fraction of total industry sales. The industry will be ________

A) large; competitive B) large; an oligopoly C) small; competitive D) small; an oligopoly