The restaurant, legal assistance, and clothing industries are each illustrations of:
A. countervailing power.
B. homogeneous oligopoly.
C. monopolistic competition.
D. pure monopoly.
Answer: C
Economics
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If consumers' confidence in the economy rises
A) aggregate demand will shift rightward and the price level will rise. B) aggregate demand will shift leftward and the price level will fall. C) aggregate demand will shift rightward and the price level will fall. D) aggregate demand will shift leftward and the price level will rise.
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In Figure 6.7 at equilibrium, producer surplus is area:
A. A. B. A + B + C. C. E + F + G. D. G.
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