If households save $40 billion less at each level of income and the MPC=0.8, the aggregate expenditure line will

When a perfectly competitive industry is taken over by a monopoly, some consumer surplus is transferred to the monopolist in the form of

A) marginal cost. B) economic profit. C) deadweight loss. D) taxes. E) average variable cost.

Bob works for a firm that produces umbrellas. He receives payment for his labor. The firm wants to expand but lacks the capital needed for the expansion. Bob, a person of some means, provides the capital. What market(s) are these payments made in?

a. illegal market b. goods and services market c. product market d. resource market e. umbrella market