consumer surplus and producer surplus will both increase.

consumer surplus will increase, but producer surplus will decrease.

consumer surplus and producer surplus will both decrease.

consumer surplus will decrease, but producer surplus will increase.

a decrease in the equilibrium quantity and a decrease in the equilibrium price.

a decrease in the equilibrium quantity and an increase in the equilibrium price.

an increase in the equilibrium quantity and an increase in the equilibrium price.

an increase in the equilibrium quantity and a decrease in the equilibrium price.

An improvement in production technology.

A decrease in price.

A decrease in the number of sellers.

An increase in the price of a complementary good.

there is no force for change in the price or the quantity.

as a group, buyers and sellers will both be satisfied with the outcome.

All of these are correct.

quantity demanded is equal to quantity supplied.

There will be a deadweight loss.

There will be excess demand in the market.

The market will not be at equilibrium.

steep.

vertical.

horizontal.

Any of these could be correct, depending on the sellers' costs.

as price decreases, the consumer chooses to buy more of the good.

as price increases, the seller shifts to producing higher quality goods.

as price decreases, consumers decide to exit the market and buy higher quality goods instead.

as price increases, sellers are willing and able to sell more of the good.

None of these is correct.

in monopoly there is freedom of entry

into the market, but in perfect competition there are barriers to entry into

the market.

in monopoly the goods are

homogeneous, but in perfect competition the goods are differentiated.

in monopoly there are many buyers but

one seller, but in perfect competition there are many sellers and many buyers.

a decrease in demand.

an increase in demand.

a decrease in quantity demanded.

an increase in quantity demanded.