(Transcript of audio with descriptions. Transcript includes narrator headings and description headings of the visual content)
(Speaker)
Since the monopoly charges a higher price and sells fewer items, consumers are going to be worse off.
(Description)
The graph from the slide 1 is shown.
The following text is written above the graph:
Which area reflects consumer surplus under single-price monopoly?
(Speaker)
In this problem, you are asked to find consumer surplus under the single price monopoly. Consumer surplus is the area above the price B and below the demand curve or area, A, B, F.
(Description)
The corresponding area on the graph, A, B, F, is highlighted. It is labeled as Consumer surplus is the area above price and below demand, area, A, B, F.
(Speaker)
You'll notice the consumers are considerably worse off with a single price monopoly. From the last part, you'll notice that a portion of the consumer surplus in the competitive industry is now profit for the monopoly.