Refer to the graph shown.If suppliers can reduce output from M to L, consumer surplus is reduced by area(s):

Refer to Scenario 16.3. What is Sally's marginal rate of substitution of tee shirts for candy at the current distribution?

A) 9/4. B) 2 C) 4/9. D) It is impossible to determine without the prices of each commodity.

If there is an excess demand for money, there is an excess

a. supply of bonds and the price of bonds will increase. b. supply of bonds and the price of bonds will decrease. c. demand for bonds and the price of bonds will increase. d. demand for bonds and the price of bonds will decrease. e. supply of bonds and the price of bonds will not change.