Refer to the figure above. The triangular region BEC shows the ________ due to the price ceiling
A) gain in consumer surplus
B) loss in consumer surplus
C) gain in producer surplus
D) loss in producer surplus
D
Economics
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The rising phase of a business cycle measured by an increase in real GDP is called:
A) trough. B) expansion. C) recession. D) contraction.
Economics
By selecting a bundle where MRS = MRT, the consumer is
A) achieving a corner solution. B) reaching the highest possible indifference curve she can afford. C) not behaving in an optimal way. D) All of the above.
Economics