Based on the graphic for perfect competition versus monopoly, which is the greatest area?
a. consumer surplus in a monopoly
b. consumer surplus in perfect competition
c. producer surplus in a monopoly
d. producer surplus in perfect competition
b. consumer surplus in perfect competition
Economics
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According to the short-run Phillips Curve, there is a trade-off between
(a) interest rates and inflation (b) the growth of the money supply and interest rates (c) unemployment and economic growth (d) inflation and unemployment (e) economic growth and interest rates
Economics
If money income increases and the prices of products A and B both increase, then the budget line:
A. must shift to the right. B. must shift to the left. C. may shift either to the right or the left, or not at all. D. will no longer be tangent to an indifference curve.
Economics