Today, the Federal Trade Commission (FTC) is concerned with:

a. enforcing consumer protection legislation.
b. prohibiting deceptive advertising.
c. preventing collusion.
d. all of these.

d

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In a monopoly, consumer surplus decreases and producer surplus increases.

a. true b. false

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What is the shape of the modern short-run aggregate supply (SRAS) curve? Why?

What will be an ideal response?

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