In the long-run production function, all of the inputs to the production process are allowed to vary

A negative externality

A) occurs under any undesirable event. B) occurs when an action doesn't take into account the costs it imposes on others. C) can be a natural phenomenon, such as being struck dead by a bolt of lightening. D) cannot occur at the same time as a positive externality.

Which area in the above figure shows the consumer surplus at the price and quantity that would be set by a single-price monopoly?

A) A + B B) A + B + C + D + E C) C + D D) C + D + E + F + G + H