Use the figure below to answer the following questions. 
Figure 12.3.3
-Consider Figure 12.3.3.What is the redistribution of surplus from consumers to the producer with a single-price monopoly,as compared to a perfectly competitive market?
Definitions:
Government Spending
The total amount of public funds that a government disburses on various services and projects.
Budget Deficits
The situation when a government's expenditure exceeds its revenue, resulting in a shortfall that needs to be financed through borrowing.
Economic Efficiency
A state in which resources are allocated in a way that maximizes the production of goods and services at the lowest cost.
Monetary Policy
The management of a country's money supply and interest rates by its central bank, aimed at controlling inflation, stabilizing currency, and achieving economic growth.
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