If a firm is able to convert every dollar of consumer surplus to economic profit, the firm has achieved
A) discrimination among units of a good.
B) discrimination between groups of buyers.
C) perfect price discrimination.
D) perfect cost minimization.
E) the normal amount of economic profit.
C
Economics
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When the Fed buys or sells government bonds to private banks in exchange for reserves, it is referred to as:
A) the Fed's dual mandate. B) open market operations. C) reserve targeting. D) moral suasion.
Economics
Refer to the table above. If the six highest-value buyers and the six least-cost sellers engage in trade, what is the social surplus?
A) $6 B) $8 C) $10 D) $12
Economics