-In Figure 29.1 the area that represents the amount the consumers pay the producer under monopoly is A)OP_PCCQ_PC B)OP_monopolyBQ_monopoly C)OFCQ_PC D)OFEQ_monopoly

Question

Quizplus · Accepted Answer

The area that represents the amount consumers pay the producer under monopoly is typically the rectangle formed by the price level the monopolist sets and the quantity sold. This area is described by the price (P) at the monopoly level, the quantity (Q) sold by the monopolist, and the axes (O and B), which in the given options is best represented by option B.