In the above figure, for a single-price monopoly the consumer surplus is equal to the area
A) abP1.
B) acP2.
C) bce.
D) bed.
E) cQ20P2.
A
Economics
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When the AE curve shifts upward because the price level falls, the corresponding effect on the aggregate demand curve is
A) a shift rightward of the aggregate demand curve. B) a movement upward along the aggregate demand curve. C) a shift leftward of the aggregate demand curve. D) a movement downward along the aggregate demand curve. E) nothing because aggregate demand does respond to changes in the price level.
Economics
A market requires
A) sellers only. B) buyers and sellers. C) government intervention. D) buyers only.
Economics