The above figure shows supply and demand curves for milk. If the government passes a law that establishes $3 per month as the legal minimum per gallon price, change in producer surplus will be

An important function of international institutions during times of crisis is to

A) make goods nonrival. B) make goods nonexcludable. C) prevent free riding. D) prevent nondiscrimination. E) encourage free riding.

One type of economic regulation often used in the United States by various public utility commissions allows prices to reflect only the actual cost of production and no monopoly profits. This type of economic regulation is known as

A) rate-of-return regulation. B) cost-of-service regulation. C) price per constant-quality-unit regulation. D) creative response regulation.