In perfect competition in the long-run equilibrium, can consumer surplus or producer surplus be increased? Explain your answer

What will be an ideal response?

Once at the competitive equilibrium quantity, which is the same as the efficient quantity, the sum of consumer surplus plus producer surplus is as large as possible. If the price is lowered, consumer surplus increases but only at the expense of a larger decrease in producer surplus. And the lower price is not the long-run equilibrium price.
If the price is raised, producer surplus increases but only at the expense of a larger decrease in consumer surplus. And the higher price is not the long-run equilibrium price.

Economics

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After the Fed sells a government bond, which of the following is the impetus for the money supply process that follows?

a. Banks now have excess reserves. b. Banks now have deficient reserves. c. Banks must print money to purchase the bonds. d. Banks now have to hold more required reserves. e. Banks now must be regulated closely.

Economics

Another term for the total quantity of output is

A) average product. B) marginal product. C) total product. D) average variable product.

Economics