____ are unexpected temporary events that can either increase or decrease short-run aggregate supply

a. Profit effects
b. Volatilities
c. Supply shocks
d. Misperception effects

c

Economics

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To maximize its profit, in the short run a perfectly competitive firm decides

A) what price to charge for its product. B) what quantity of output to produce. C) whether to exit the market. D) whether to increase the size of its plant. E) how much advertising it should undertake.

Economics

The above figure shows the market for a particular good. If the market is controlled by a perfect-price-discriminating monopoly, consumer surplus equals

A) A. B) A + B + C. C) C. D) zero.

Economics