Elvis values the first gravy sandwich at $5, the second at $4.50, the third at $4 . If he buys three for $4 each, his consumer surplus is

The trilemma refers to all the following EXCEPT:

a. a fixed exchange rate. b. international capital mobility. c. monetary policy autonomy. d. price controls.

Which of the following is a difference between an oligopoly with differentiated products and a monopolistic competition?

A) There are no barriers to entry in an oligopoly with differentiated products, while there are huge barriers to entry in a monopolistic competition. B) There are huge barriers to entry in an oligopoly with differentiated products, while there are minimal barriers to entry in a monopolistically competitive market. C) Firms in an oligopoly market with differentiated products charge a price higher than marginal cost in the long run, while firms in a monopolistic competition charge a price lower than marginal cost in the long run. D) Firms in an oligopoly with differentiated products charge a price lower than average total cost in the long run, while firms in a monopolistic competition earn a price higher than average total cost in the long run.