While oligopolies are generally inefficient, limit pricing may keep prices closer to competitive levels.

Under fixed exchange rate, in general which one of the following statements is the MOST accurate?

A) The following condition should hold for domestic money market equilibrium: Ms/P = L(R , Y). B) The following condition should hold for domestic money market equilibrium: Md/P = L(R , Y). C) The following condition should hold for domestic money market equilibrium: Ms = L(R , Y). D) The following condition should hold for domestic money market equilibrium: P = L(R , Y). E) The following condition should hold for domestic money market equilibrium: R*Md/P = L(Y).

The portion of a worker's total earnings that is not necessary to keep the worker in her present job is called

a. opportunity cost b. consumer surplus c. economic profit d. economic rent e. normal profit