For a perfectly competitive market in which firms face an identical constant marginal costs, the amount of consumer surplus increases if

Spending VCU4 on real-world goods and services causes the nation's:

a. Monetary base to remain the same. b. M2 money supply to fall. c. M2 money multiplierto fall. d. M2 money supply to rise.

Which is true of pure competition but not of monopolistic competition?

A. There are no significant barriers to entry B. Long-run economic profits are zero C. There are a large number of firms in the market D. Long-run equilibrium occurs at the minimum point on the ATC curve