The Nature of the Loss of Total Economic Surplus from Monopoly

Multiple Choice

The nature of the loss of total economic surplus from monopoly is that

A) the marginal cost of the last unit the monopolist produces is greater than the marginal benefit.
B) the marginal benefit of the last unit the monopolist produces is greater than the marginal cost.
C) through the use of his market power,the monopolist can force consumers to pay higher prices.
D) the monopolist produces too much output.
E) the monopolist earns huge profits at the expense of the consumer,who has few alternatives.