The shows the flow of resources, products, income, and revenue among economic decision makers. a. income-expenditure model O b. aggregate demand-aggregate supply model Oc. circular-flow model O d. IS-LM model

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

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A: Economics is a social science that deals with economic behavior and the problem of scarcity.

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Q: Which of the following would a Laissez-Faire economist advocate in a time of economic recession

A: Laissez-faire economist advocate complete freedom of firms.

Q: *Make a response,question, or clarification for that opinion

A: The consumer is an individual that buys the products and services from the seller in the market.

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A: Marginal Decision-Making: Marginal decision-making involves evaluating the benefits and costs of a…

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Q: So, in both cases, the chef would be doing the baking and cooking?

A: The theory of comparative advantage is based on opportunity cost.