The short-run aggregate supply curve is upward sloping because in the short run the
A) money wage rate changes but the price level does not.
B) price level changes but the money wage rate does not.
C) both the money wage rate and the price level change.
D) neither the money wage rate nor the price level can change.
B
Economics
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Consumer surplus is: a. the area underneath the demand curve
b. the total utility derived from consuming a good. c. the marginal utility of the last unit consumed multiplied by the number of units consumed. d. the difference between what consumers are willing to pay and what they are required to pay for a good.
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