Refer to the information provided in Figure 13.9 below to answer the question(s) that follow. 
Figure 13.9 Refer to Figure 13.9. If Ohio Edison engages in rent-seeking behavior to maintain their monopoly, the true net social cost of monopoly is
A. FAC.
B. BEC and the portion of area FGBE that pays for the rent-seeking behavior.
C. AGB and the portion of area FGBE that pays for the rent-seeking behavior.
D. FGBC.
Answer: B
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The difference between the values of final production and value of the inputs is called:
a.? ?The gross product of the final goods and services b.? ?The value added of the final goods and services c.? ?The profit of the final goods and services d.? ?The surplus of the final goods and service
Refer to the diagram. The firm will shut down at any price less than:
A. P 1 .
B. P 2 .
C. P 3 .
D. P 4 .
Recession is the opposite of
A) economic growth. B) economic decay. C) stagflation. D) inflation. E) deflation.
Which of the following is an example of a quasi-public good?
A) stock of knowledge in the public domain B) crime prevention C) cable television D) organic apples