1:

Please match the below Market Structure with the best fitting 'economic description'. A. Simple Monopoly a. No Consumer Surplus B. Perfect Price Discriminating b. No "Dead Weight Loss" Monopolist C. Perfect Competition in Long c. Excess Profits Run D. Perfect Competition in Short d. "Dead Weight Loss" RunMatch the following economic concepts with most accurately fitting descriptor. A. Traditional (Tullock) Dead a. Triangle shaped area Weight Loss B. Thompson Dead Weight b. area represented between Loss Demand Curve and Market Price of Good C. Consumer Surplus c. Triangle and Rectangle shaped area D. Producer Surplus d. area represented between Supply Curve and Market Price of GoodA 'Rational Consumer's "Utility' Indifference curves between Good X and Good Y are concave with respect to the origin of the graph of Good X and Good Y. A True B False'Market Failure" takes place when a market exhibits A 'Consumer Surplus'. B "Dead Weight Loss'. C "Producer Surplus D all of the above. E none of the above.An 'Inferior Good' responds to a change in its price with A positive substitution and income effects . B its income effect working against its substitution effect. C inverse substitution and positive income effects. D a and b E b and c F none of the above