Assume the market in the graph shown with demand D and supply S1 is in equilibrium at a quantity of 5 units. Producer surplus is:
A. $15.
B. $10.
C. $5.
D. $7.50.
Answer: D
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A) quickly; quickly B) quickly; slowly C) slowly; quickly D) slowly; slowly
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The expansion of global trade has especially benefited individuals whose skills are relatively common in the worldwide economy.
Answer the following statement true (T) or false (F)