On average, if demand is unknown and costs of underpricing are _______ than the costs of overpricing, then _________

Economists call the difference between what you pay for a good and what you would have been willing to pay for it a(n)

a. budget deficit b. consumer deficit c. consumer marginal benefit d. consumer surplus e. economic benefit

For a profit-maximizing monopolistically competitive firm, price exceeds marginal cost in

a. the short run but not in the long run. b. the long run but not in the short run. c. both the short run and the long run. d. neither the short run nor the long run.