Both X and Y

X only

Y only

Neither X nor Y

Both X and Y

X only

Y only

Neither X nor Y

A rise in total consumer plus producer surplus

A rise in producer surplus

A deadweight loss

A fall in consumer surplus

The monopoly would move from making a profit to making a loss

The monopoly would reduce its output

The monopoly would now set its output where its MC curve intersects its AR curve

The monopolist’s price would now equal its marginal cost

The monopoly would move from making a loss to making a profit

The monopoly would increase its output

The monopoly would now set its output where its AC curve intersects its AR curve

The monopoly’s price would be below its marginal cost.