Based on the graphic for perfect competition versus monopoly, the difference between the consumer surplus of perfect competition and the consumer surplus of a monopoly is ______.
a. -a-b
b. -c
c. -b
d. -b-c
d. -b-c
You might also like to view...
The divergence between money costs and opportunity costs is the least in which of the following situations?
a. China uses millions of otherwise unemployable workers to build roads with picks and shovels. b. Wilhelm, an engineer at Exxon, is drafted-his army salary is $2,000 per month. c. Colleen quits her job to stay at home and raise her children. d. A university, using a private contractor, builds a field house on land it purchased at full market value from a local farmer.
Many products consumed by Americans are imported. Imports account for the largest share of which of the following products consumed by Americans?
What will be an ideal response?
As a result of the superb economics essay that you wrote during this quarter, you won the Adam Smith prize of $100. The receipt of these funds would be an example of
A. a pure substitution effect. B. the income effect being stronger than the substitution effect. C. a pure income effect. D. the substitution effect being stronger than the income effect.
Momentum investing can be described as
A) consistent with the efficient markets hypothesis. B) similar to mean reversion. C) follow the picks of investors who have been successful in the past. D) the trend is your friend.