
Refer to Figure 7.4. If the market was a monopoly, the consumer surplus would be:
A. $625.
B. $450.
C. $300
D. $225.
Answer: D
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A. lower; potential B. higher; higher C. higher; potential D. lower; higher
What would be expected to happen to the size of the underground economy if:
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A) 1950s. B) 1960s. C) 1970s. D) 1980s.
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A) -10% B) -30% C) -50% D) -200%