Suppose you're willing to tutor a student for $10 an hour. The student pays you $15 an hour. What is your producer surplus?
A) $5 an hour
B) $10 an hour
C) $15 an hour
D) $25 an hour
E) More than $25 an hour
A
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Vertical restraints in a contract
A) are generally illegal in the U.S. B) usually benefit the firm that produces the raw inputs to the production process. C) are used in vertical mergers. D) can approximate the outcome of a vertical merger.
The lack of investment in developing countries is at least in part attributable to:
A. high levels of foreign aid. B. low levels of domestic savings. C. inappropriate education. D. overpopulation.
Which of the following is not one of the three critical characteristics of efficient property rights?
A) Externality B) Transferability C) Exclusivity D) Enforceability
WTO talks in the late 1990s led to openings in both financial services and telecommunications
Indicate whether the statement is true or false