What is the dead-weight loss?   Question 7 options:   None of the other answers is correct   The loss in welfare due to the monopoly producing a SMALLER amount than a competitive market would   The loss in welfare due to the monopoly producing a LARGER amount than a competitive market would   A new weight loss system :)

27. Table: Prices and Demand Quantity of Hats Demanded 0 1 2 4 6 7 8 Price per Hat $30 28 26 24 22 20 18 16 14 (Table: Prices and Demand) Look at the table Prices and Demand. The New Orleans Saints have a monopoly on Saints logo baseball hats. The Saints sell at most one hat to each customer, and the table shows each customer's willingness to pay. The marginal cost of producing a hat is $18. How much is deadweight loss at the Saint's profit-maximizing output? Oa. $24 O b. $12 Oc. $18 Od. $9

q2 how to draw the diagram for deadweight loss

(a) Find the point (A, B, C, D, or E) that corresponds to the profit maximizing price and quantity. (Select only one letter.) (b) Which number corresponds to consumer surplus on the graph? (c) Which number corresponds to producer surplus on the graph? (d) Which number corresponds to deadweight loss on the graph?