The slope of a line is equal to
a. rise divided by run.
b. run divided by rise.
c. rise minus run.
d. rise plus run.
a
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A principal-agent problem occurs when
a. people are "fooled" by high absolute wages offered by employers. b. insurance increases people's willingness to take risks. c. an employer cannot fully monitor the employee's work. d. a highly productive worker is unable to earn any rent.
What is the definition of producers' surplus?
A) price received minus maximum selling price B) maximum selling price minus price received C) price received minus minimum selling price D) highest price minus lowest price E) none of the above
These are the cost and revenue curves associated with a firm.
Assuming the firm in the graph shown is producing Q1 and charging P3 in the long run, then the deadweight loss is
A. Area A. B. Area B. C. Area C. D. There is no deadweight loss.
Refer to the accompanying figures. If the price of soda is $1.25 per can, then the quantity of soda demanded in the market each month is: 
A. 30. B. 10. C. 0. D. 40.