In Exhibit 1, what is the producer surplus when the price is $4 and the quantity is one?
a. $7
b. $4
c. $3
d. $1
c. $3
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Beautification of the national highways through the planting of shrubs and wildflowers will
A) be profitable for a private landscaping company because they can charge passing drivers. B) benefit even people who do not help pay. C) provide a flow of services that are rival in consumption. D) provide a flow of services that involve excludable consumption.
In principle, taxes and cap-and-trade plans will have exactly the same effects
Indicate whether the statement is true or false
A move from M to N best represents a
A. change in quantity demanded.
B. change in demand.
C. increase in demand.
D. decrease in demand.
Securities is a term that refers to ______.
a. bonds and stocks b. land and buildings c. coins and currency d. insurance and wages