Total revenue minus total cost is equal to

In-kind transfers can be justified over cash transfers on the grounds that _____

a. they give the recipients higher utility b. they have lower administrative costs c. they are more equitable than in-kind transfers d. taxpayers prefer them

The more time consumers have to adjust to a change in price:

A. the smaller will be the price elasticity of demand. B. the greater will be the price elasticity of demand. C. the more likely the product is a normal good. D. the more likely the product is an inferior good.