Assuming the market is in equilibrium in the graph shown with demand D and supply S2 at a quantity of 8, consumer surplus is:

Arnie's Airlines decides to offer different fares to different customers for the same tri

A) wants to convert consumer surplus to deadweight loss. B) wants to help some buyers with lower fares. C) has different costs for the same flight. D) wants to convert consumer surplus to economic profit. E) wants to convert producer surplus to consumer surplus.

In setting the production level, a firm's cost curves

a. by themselves do not tell us what decisions the firm will make. b. dictate what decisions the firm will make. c. have no bearing on what decisions the firm will make. d. None of the above is correct.