Refer to Figure 15-10. The deadweight loss due to a monopoly is represented by the area

If exports and imports both fell, but exports fell less than imports, a. AD would decrease

b. AD would increase. c. AD would be unaffected. d. AD could either increase or decrease.

Which of the following goods will have the most inelastic demand at any time?

a. jewelry b. Big Macs c. electricity d. pork chops