The area between the market price and the supply curve provides a measure of:
a. consumer surplus
b. producer surplus.
c. consumer surplus plus producer surplus.
d. marginal utility.
b
Economics
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The table above shows the demand and costs for a single-price monopolist. The firm will
A) maximize profit by producing 3 units. B) maximize profit by producing 2 units. C) operate on the inelastic portion of its demand curve. D) operate on the unit elastic portion of its demand curve.
Economics
A decrease in "financial frictions" is associated with ________
A) a decrease in the credit spread B) more efficient functioning of financial markets C) reduced real cost of borrowing for businesses D) an increase in planned investment spending E) all of the above
Economics