Refer to the figure above. When the demand curve for flash drives is D and the supply curve of flash drives is S1, what is the surplus in the market if the price is $7?
A) 10 units
B) 20 units
C) 50 units
D) 60 units
C
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Suppose there is a $200 billion increase in government spending. We know that this increase in government spending will cause which of the following to occur?
A) equilibrium real GDP will increase by exactly $200 billion. B) an increase in equilibrium real GDP and an increase in the multiplier. C) an increase in equilibrium real GDP and a reduction in the multiplier. D) an increase in equilibrium real GDP and no change in the multiplier.
Which one of the following statements is the MOST accurate? By the year 1932, the United States
A) and Canada alone held more than 70 percent of the world's monetary gold. B) and Germany alone held more than 70 percent of the world's monetary gold. C) and Britain alone held more than 70 percent of the world's monetary gold. D) Britain, and France alone held more than 70 percent of the world's monetary gold. E) and France alone held more than 70 percent of the world's monetary gold.
During the antebellum period, most international payments were made by
(a) shipping specie. (b) bills of exchange. (c) credit extended by private banks in the U.S. (d) all of the above.
Explain why in the long run a firm that is cost minimizing will choose K and L where:
w/MPL = r/MPK What does this tell you about the marginal cost of increasing output through hiring labor and the marginal cost of increasing output through adding capital?