According to Gordon, the main losers due to the redistributive effect of the postwar inflation in the United States were

Refer to the figure above. What is the consumer surplus before Barylia opens up to free trade?

A) $250 B) $300 C) $350 D) $400

When comparing the market price of an input in a market characterized by bilateral monopoly to a perfectly competitive price

A) the bilateral monopoly price is always higher than the competitive price. B) there is no difference; the bilateral monopoly price equals the competitive price. C) the bilateral monopoly price is always less than the competitive price. D) the bilateral monopoly price can be higher than, lower than, or equal to the competitive price.