Refer to the graph shown. When the market is in equilibrium, producer surplus is equal to:
A. 2,000.
B. 1,500.
C. 500.
D. 1,000.
Answer: D
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What are the three decisions that all firms must make?
What will be an ideal response?
The free-rider problem occurs because
A) people who pay for information use it freely. B) people who do not pay for information use it. C) information can never be sold at any price. D) it is never profitable to produce information.
If the firm is minimizing losses, total loss will be
A. OMKE.
B. EKQN.
C. NQHG.
D. FIHG.
In the former Soviet Union,
A. the collective farms were more productive per acre than the private plots of land owned by peasants. B. there was no private ownership of any farmland. C. the private plots of land were more productive per acre than the large collective farms. D. the land under cultivation was equally split between private plots of land and the collective farms.