An example of a buyer in a financial market would be:
A. families buying new houses.
B. students saving for college.
C. corporations loaning money to other firm.
D. families putting money away for the future.
A. families buying new houses.
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If the demand and supply curves are described by the following equations P = a - bQ and P = c + dQ, respectively, the equilibrium price is P* = (ad + bc) / (b + d)
Indicate whether the statement is true or false
If the APC is .7, we save
A. 3 percent of our income. B. 7 percent of our income. C. 30 percent of our income. D. 70 percent of our income.
Consumer surplus is
A. the total difference between the total amount that consumers would have been willing to pay for an item and the total amount that they actually pay. B. the total difference between the total costs firms incur in producing an item and the utility consumers derive from purchasing the item. C. the total difference between the total amount that consumers actually pay for an item and the total amount that they would have been willing to pay. D. the total difference between the utility consumers derive from purchasing an item and the total costs firms incur in producing the item.
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 Ohio Edison engages in rent-seeking behavior to maintain their monopoly, the true ________ is BEC and the portion of area FGBE that pays for the rent-seeking behavior.
A. net social gain from monopoly B. net social cost of monopoly C. consumer surplus D. producer surplus