Suppose demand for a good is QD = 100 - P and supply is QS = -20 + P. Suppose that a nationwide quota (of 20) is enforced so that more can be used in a war effort. What is the consumer surplus?

If the four-firm concentration ratio for the market for pizza is 28 percent, then this industry is best characterized as

A) a monopoly. B) monopolistic competition. C) an oligopoly. D) perfect competition. E) oligopolistic competition.

A negative income tax program is:

a. b, c, d, and e. b. basically an income tax in reverse. c. based on government cash payments to the poor that are linked to their income levels. d. designed to provide a minimum level of income to the poor. e. based on cash payments that decline as income level increases.