According to the table above, ________ percent of total income is redistributed from the highest income group

The entry of new firms into a monopolistic competitive industry will shift the

a. market demand curve to the right b. market demand curve to the left c. existing firms' demand curves to the right d. existing firms' demand curves to the left e. market supply curve to the left

Producer surplus is represented by ______.

a. the area below the market supply curve and above the market price b. a sharp downward slope of the supply curve c. the area above the market supply curve and below the market price d. the point where the supply and demand curves intersect