In the above figure, the second ton of wheat would be produced even though the producer surplus on it is zero if the price per ton of wheat was

Your loss from an increase in interest rates is ________, and your gain from a decrease in interest rates is ________, if you hold a two-year bond compared to holding a one-year bond

A) greater; greater B) greater; less C) less; greater D) less; less

Oligopoly and monopolistic competition can be described as industries where firms

a. have high barriers to entry b. produce identical goods c. are located near each other d. produce close substitutes e. aspire to become perfect competitors