Suppose the GoSports Pennant Monopoly Is Broken Up and the Pennant

Multiple Choice

Suppose the GoSports pennant monopoly is broken up and the pennant industry becomes perfectly competitive. We would expect the _____ to increase and _____ to decrease after the breakup.

A) producer surplus; consumer surplus and total surplus
B) consumer surplus; producer surplus and total surplus
C) consumer surplus and total surplus; producer surplus
D) producer surplus and total surplus; consumer surplus