If you were to compare and ideal market efficiency with an unregulated monopolist. Assuming that firms maximize profits, how will the price and output policy compare? a. The price will be too low and output too small. b. The price will be too low and output too large. c. The price will be too high and output too large. d. The price will be too high and output too small.

Suppose rebecca needs a dog sitter so that she can travel to her sister’s wedding. rebecca values dog sitting for the weekend at $200. susan is willing to dog sit for rebecca so long as she receives at least $175. rebecca and susan agree on a price of $185. suppose the government imposes a tax of $30 on dog sitting. the tax has made rebecca and susan worse off by a total of