Data from the Bureau of Labor Statistics show that apparel makes up 14 percent of the typical consumer's budget

For a perfectly competitive market in which firms face an identical constant marginal costs, the amount of consumer surplus increases if

A) market demand decreases. B) market demand increases. C) marginal cost increases. D) none of the above: insufficient information to answer.

A rational decision maker engages in an activity if that activity is more attractive than the best alternative

a. True b. False