The portion of consumer surplus that no one in society is able to obtain in a situation of monopoly is known as
A) a market failure.
B) a deadweight loss.
C) an unrealized loss.
D) a market externality.
B
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________ is a process of bundling together smaller loans (like mortgages) into standard debt securities
A) Securitization B) Origination C) Debt deflation D) Distribution
Which of the following is true at the exchange equilibrium between two individuals?
A) Their marginal rates of substitution are equal. B) The slopes of the individuals' indifference curves are equal. C) Both individuals' marginal rates of substitution are equal to the ratio of the prices of the goods. D) A and B only E) A, B, and C are all true.
If the social costs of refining oil are greater than the private costs of oil refining, then
A) the external costs of oil refining are greater than the social costs of oil refining. B) users of products that use refined oil are paying too much for the products. C) there is too much oil refining. D) the amount of oil refining needs to increase in order to bring social costs and private costs in line with each other.
Assume that the price elasticity of demand for a commodity is 0.20 . A 10 percent increase in the price of the commodity will be followed by a:
a. 20 percent increase in the quantity demanded. b. 2 percent decrease in the quantity demanded. c. 20 percent decrease in the quantity demanded. d. 0.2 percent decrease in the quantity demanded. e. 2 percent increase in the quantity demanded.