Total surplus in a market does not change when the government imposes a tax on that market because the loss of consumer surplus and producer surplus is equal to the gain of government revenue

Because the smallcountry monopolist loses the ability to control the market price, consumers enjoy more quantity, competitive prices, and:

a. a bonus because the foreign goods are of higher quality. b. a loss because the monopoly loses profits. c. higher consumer surplus because the monopolist's producer surplus is reduced. d. a loss because now unions have less power than before.

If we compare income percentages of total income of the lowest quintile in 1968 with 2008, we would find that it was

A. rising. B. staying about the same. C. falling.