An aggregated demand curse is created by summing the _________ on the individual demand _________.
Fill in the blank(s) with the appropriate word(s).
quantity demanded at each price, curves
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We assume that in the long run in a perfectly competitive market:
A. the firms can enter or exit. B. collusion will set in without government regulation. C. the price will be constant. D. the number of firms is fixed.
Suppose that a one-way network leads to the development of a number of new complementary products and services. This phenomenon is known as:
A. an indirect network externality. B. a reputation effect. C. a direct network externality. D. lock-in.
If the price of a product decreases, we would expect
What will be an ideal response?
Refer to the information provided in Figure 13.9 below to answer the question(s) that follow. 
Figure 13.9 Refer to Figure 13.9. If this industry was originally perfectly competitive and becomes monopolized, the amount of ________ transferred to Ohio Edison in the form of profits is FGBE.
A. welfare loss B. net social gain C. producer surplus D. consumer surplus