To help pay for the cost of sport related injuries, the government imposes a tax on sellers of all sports equipment. Using the above figure, the area that equals the lost consumer surplus from this tax on sports equipment is

A change in real GDP sums up changes in

A) prices alone. B) physical production alone. C) physical production minus changes in price. D) physical production and prices.

In monopolistically competitive market structure, because each good sold in the market is ____, each firm is considered a ____

a. slightly different; price maker b. slightly different; price taker c. the same; price maker d. the same; price taker