In the image below, identify the areas representing consumer surplus, producer surplus, and deadweight loss. Determine if the horizontal line in pink represents a price cieling or a price floor. Provide an explanation of your answers to receive full credit. Use phrases like lower left triangle, trapezoid, or triangle on the right side to describe the areas you are referencing in your explanation. p=D(x) P=S(x)

What is your average direct sale price to Online consumers? How is your average different than the competition? Explain.

Should the government become more involved in the regulation of the Internet? Why or why not?

In 50 words, answer the following question: In class, we talked about how social media is a common resource. Do you think the providers of social media forums should regulate the behavior of users? If not, why not? If so, how? (Hint: think economically. How could the providers (not) solve the problems with common resources by regulating?)

What can be used to influence and shape consumers’ intangible preferences in order to differentiate products within a monopolistically competitive market? Group of answer choices pricing strategy product placement advertising

Cross-Rates 1€=$1.75, 1$=£1.75 Is there an arbitrage opportunity if €=£1? Yes No