If policymakers are expected to increase the money supply, Monetarists argue that there is __________ effect. There is __________ effect that raises prices when the money supply actually increases

If the demand elasticity for corn in the current marketing is -0.5 and you know that the demand curve is linear and it goes through 10 billion bushels at a price of $5.00 per bushel, then if production turns out to be 12 billion bushels, the price of corn will be

A. $3.00 B. $4.00 C. $5.00 D. $6.00

In a competitive market equilibrium

A) marginal benefit and marginal cost are maximized. B) the marginal benefit equals the marginal cost of the last unit sold. C) total consumer surplus equals total producer surplus. D) consumers and producers benefit equally.