When We Compare Economic Welfare in a Monopoly Market to a Competitive

Multiple Choice

When we compare economic welfare in a monopoly market to a competitive market, the profits earned by the monopolist represent

A) a transfer of benefits from the consumer to the producer.
B) a loss in total welfare.
C) the higher marginal costs incurred by the monopolists in comparison to competitive firms.
D) the higher marginal revenues gained by the monopolists in comparison to competitive firms.