Social security recipients receive an automatic cost-of-living adjustment (cola) once each year. their monthly benefit is increased by the amount that consumer prices increased during the preceding year. suppose that consumer prices have increased by 6.1% during the preceding year. (a) express the adjusted monthly benefit of a social security recipient as a function of his or her current monthly benefit.

1. which one of the following would be an example of a supply-side market failure? a. a gas station is slowly leaking diesel fuel from its underground tanks, and after the leak is discovered, the business immediately cleans up the pollution at its own expense. b. a gas station is slowly leaking diesel fuel from its underground tanks, but the state uses taxpayer money to clean up the pollution rather than requiring the business to pay. c. your business wants to attract repeat customers by putting on a customer-appreciation picnic at a public park, but you decide not to because you couldn't prevent noncustomers from consuming the food and entertainment you provided. d. everyone rushes to the local retail outlet at midnight on the day of the release of a new video game console, and the store runs out before everyone is able to buy one.