Refer to Figure 4-6. What area represents consumer surplus at the equilibrium price of P1?

What are the arguments against the redistribution of income?

What will be an ideal response?

Market structure is determined by the

a. volume of discounts, the quantity of foreign exchange, and the effects of Federal Reserve policy b. influence of government policy, the number of qualified buyers, and the effect of generally accepted accounting principles c. number of buyers and sellers, whether the product is standardized, whether there is free entry and exit, and how well informed the buyers and sellers are about the market d. volume of discounts, the effect of generally accepted accounting principles, and Federal Reserve policy e. influence of government policy, the quantity of foreign exchange, and the effects of Federal Reserve policy