The owners of a corporation are

In the life-cycle hypothesis, people are assumed to have a consumption pattern that leads them to dissave

A) at no point in their life. B) in the working years up to retirement. C) in their retirement years. D) in every year of their life.

Consumer surplus is

a. a concept that helps us make normative statements about the desirability of market outcomes. b. represented on a graph by the area below the demand curve and above the price. c. a good measure of economic welfare if buyers' preferences are the primary concern. d. All of the above are correct.