Which area in the above figure shows the consumer surplus at the price and quantity that would be set by a single-price monopoly?

Activists believe that

A) there is sufficient flexibility in wages and prices to allow the economy to equilibrate at full-employment Real GDP in a reasonable period of time. B) discretionary fiscal policies do not work. C) discretionary monetary policies do not work. D) fine-tuning to smooth out the business cycle is feasible.

For which of the following products is demand likely to be least elastic with respect to price?

A. Green beans B. Vegetables C. Food D. Green vegetables