Refer to the information provided in Figure 2.4 below to answer the question(s) that follow. Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from

In a single-price monopoly market

a. total benefit (the sum of consumer and producer surplus) is as large as it can possibly be b. price and output are higher than they would be in an otherwise similar perfectly competitive market c. price and output are lower than they would be in an otherwise similar perfectly competitive market d. the quantity produced is artificially low, thereby creating an inefficiency e. the price charged is artificially low, thereby creating an inefficiency

Sellers of a product will bear the larger part of the tax burden, and buyers will bear a smaller part of the tax burden, when the

a. tax is placed on the sellers of the product. b. tax is placed on the buyers of the product. c. supply of the product is more elastic than the demand for the product. d. demand for the product is more elastic than the supply of the product.