Figure 15-20
-Refer to Figure 15-20. The consumer surplus at the monopolist's profit-maximizing price is
A)$450.
B)$900.
C)$1,350.
D)$2,025.

Name: Figure 15-20 -Refer to Figure 15-20. The consumer surplus at the monopolist's profit-maximizing price is A)$450. B)$900. C)$1,350. D)$2,025.
Brand: Quizplus
Rating: 4.8 (43 reviews)

Question

Figure 15-20 
-Refer to Figure 15-20. The consumer surplus at the monopolist's profit-maximizing price is
A)$450. 
B)$900. 
C)$1,350. 
D)$2,025.

Quizplus · Accepted Answer

The consumer surplus is the area above the price level and below the demand curve up to the quantity sold. At the monopolist's profit-maximizing price, this area is calculated to be $450.

Figure 15-20 -Refer to Figure 15-20. the Consumer Surplus at the Monopolist's