Use the table below to answer the following question.UnitsMarket PriceMinimum Acceptable Price1$10$22104310641085101061014What is the value of producer surplus in the table above?
A. $6
B. $20
C. $54
D. $12
Answer: B
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The current account balance equals
A) net exports + net transfers + net interest. B) net exports + net transfers. C) net exports - net transfers + net interest. D) net exports - net transfers - net interest. E) net exports + net transfers - net interest.
The Cournot model assumes that firm A maximizes its profit, holding firm B's output constant
What will be an ideal response?
In a perfectly competitive market in which all firms are maximizing their economic profits, the demand and supply curves intersect at a price of $10. From this we know that each
A. firm's average total cost of producing the good is $10. B. firm is earning positive economic profits at a price of $8 or more. C. firm's average variable cost of producing the good is $10. D. firm's marginal cost of producing the good is $10.
Related to the Economics in Practice on p. 466: A recent study by economists at Yale University and the University of Chicago suggests that changing retirement plan enrollment options from "opt-in" systems to "opt-out" systems increased pension plan enrollment after three months of work from ________ percent of workers to ________ percent of workers.
A. 65; 98 B. 10; 100 C. 80; 22 D. 77; 42