Consumer surplus can be used to compare the effects of any of the following except for different
a. market structures
b. tax structures
c. production technologies, such as capital-intensive versus labor-intensive
d. public programs
e. levels of medical care benefits
C
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A change in the income of buyers will normally change demand.
Answer the following statement true (T) or false (F)
When making decisions on pricing and other behaviors, oligopolistic firms must take into account the actions of other firms
a. True b. False Indicate whether the statement is true or false
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.
In hindsight, mortgage-backed securities implied very limited risk because the underlying mortgages were spread across different geographic areas.
Answer the following statement true (T) or false (F)