The differing goals of the Fed and Congress represent which type of problem?

Answer 1

47) Suppose the grocery store market in Kansas City is perfectly competitive. Then one store buys all
the others and becomes a single-price monopoly. The figure above shows the relevant demand
and cost curves. When the market is perfectly competitive, the price of a pound of steak is
A) $4. B) $20. C) $8. D) $12. E) $2.

Answer 2

12