Suppose Acme and Mega produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. For a monopolist facing this demand curve, the profit-maximizing quantity is ________ and the profit-maximizing price is ________.

Refer to Figure 9-3. What is the area of domestic producer surplus without a quota?

A) A + B + C B) C C) A + B + C + D D) C + B

An increase in the number of students graduating with a major in psychology would result in

a. a decrease in the supply of psychologists that would increase the wage of psychologists and decrease the number employed. b. an increase in the supply of psychologists that would decrease the wage of psychologists and increase the number employed. c. a decrease in the demand for psychologists that would decrease the wage of psychologists and decrease the number employed. d. an increase in the demand for psychologists that would increase the wage of psychologists and increase the number employed.