Consumer surplus is the difference between the most a person is willing to pay and market price.
Answer the following statement true (T) or false (F)
True
Economics
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Amy is working part-time. Tavaris is on temporary layoff. Who is included in the Bureau of Labor Statistics' "employed" category?
a. only Amy b. only Tavaris c. both Amy and Tavaris d. neither Amy nor Tavaris
Economics
A monopolistically competitive firm that is earning profits will, in the long run, experience all of the following except
A) new rivals entering the market. B) a decrease in demand for its product. C) demand for the firm's product becomes more elastic. D) a decrease in the number of rival products.
Economics