(Figure: Monthly Demand for Ice Cream Cones) Look at the table Monthly Demand for Ice Cream Cones. The graph represents one individual's monthly demand for ice cream cones. At a price of $5 per cone, this individual will consume 10 cones in a month. How much consumer surplus does this consumer receive?
A) $150
B) $100
C) $500
D) $50
D) $50
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In terms of purchasing power parity, the nation with the highest per capita GDP is
a. Japan. b. Norway. c. Switzerland. d. the United States.
If the nominal interest rate is 5 percent and the expected inflation rate is 2.1 percent, the real interest rate is
A. 1.9 percent. B. 7.1 percent. C. 4.1 percent. D. 2.9 percent. E. 0.29 percent.
The difference between the lowest price for which a supplier is willing to provide a good or service and the revenues a supplier actually receives for selling it is called ______.
a. value balance b. equilibrium price c. supply curve d. producer surplus
In which of the following situations would the Coase theorem more likely to be applied?
A) Two neighbors: a farmer and a beekeeper. B) Highway drivers and the dwellers of neighborhoods crossed by the highway. C) A railroad and its adjacent land owners. D) None of the above.