A situation in which union membership is required before a person can be hired is a

A price ceiling leads to a(n) ________ if below equilibrium price

A) increase in social well-being B) increase in producer surplus C) decrease in market demand D) decrease in total surplus

Price differentiation is a situation in which

A) there are different prices for similar products reflecting differences in the marginal cost of providing the commodities to different groups of buyers. B) there are different prices for the same product that are not due to differences in the marginal cost of providing the commodity to different groups of buyers. C) consumers' comparison-shop. D) the demand curve is vertical.