Economics is primarily the study of
a. how to make money in the stock market.
b. how to find lower cost methods of production.
c. the choices we must make among alternatives because of scarcity.
d. the proper form of industrial structure for the United States.
C
Economics
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Based on the graphic for perfect competition versus monopoly, the change between the producer surplus of perfect competition and the producer surplus of a monopoly is ______.
a. a – b
b. a + b
c. b
d. –c
Economics
Consider the utility function 
. If 
, the elasticity of substitution is equal to 
.
Answer the following statement true (T) or false (F)
Economics