Refer to Figure 4.8. If half of your friends go to the beach and half go to the park, you will receive a payoff of ________ if you go to the park

Refer to Figure 10.2. In moving from the competitive level of output and price to the monopoly level of output and price, the monopolist is able to add to producer surplus:

A) the area BCEF. B) the area BCEF less the area GFH. C) the area BCEH. D) the area BCEH less the area GFH. E) none of the above

Issues of the distribution of goods and services and incomes in a competitive market system are the primary topic of which fundamental question?

A. How will the system promote progress? B. Who will get the goods and services? C. How will the goods and services be produced? D. What goods and services will be produced?