Consumer surplus is equal to the area
A) under the demand curve and above the supply curve.
B) above the supply curve and below the price line.
C) under the demand curve.
D) under the supply curve.
E) under the demand curve and above the price line.
E
Economics
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Explain the difference between a positive production externality and a positive consumption externality
What will be an ideal response?
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In the long run, a monopolistically competitive firm will
a. produce a greater variety of goods than do firms in other market structures b. produce a greater output level than would a perfectly competitive firm c. produce where price equals average total cost d. earn an economic profit e. suffer a loss because of its advertising budget
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