The data below describe the economy of Econland:Business and household saving58Government transfers and interest payments12Government purchases of goods and services25Tax collections42Public saving in Econland equals:

Which of the following describes a difference between the marginal revenue and demand curves of a perfectly competitive firm and a monopolistically competitive firm?

A) The marginal revenue curve of a monopolistically competitive firm lies below its demand curve; the marginal revenue curve of a perfectly competitive firm lies above its demand curve. B) The perfectly competitive firm's marginal revenue and demand curves are the same; the marginal revenue curve of a monopolistically competitive firm lies below its demand curve. C) The monopolistically competitive firm's marginal revenue and demand curves are the same; the marginal revenue curve of a perfectly competitive firm lies below its demand curve. D) The perfectly competitive firm's marginal revenue and demand curves are the same; the marginal revenue curve of a monopolistically competitive firm lies above its demand curve.

The face value of a ticket to the Super Bowl was approximately $1,200 in 2011 . The game is very popular and there are a number of fans who are not able to get tickets to this game. At the same time, many fans claim that prices are too high and that the

NFL should lower the face value of the ticket prices. Would a decrease in ticket prices move the market towards equilibrium? Would it eliminate the shortage of tickets? Why or why not?