A supply curve can be used to measure producer surplus because it reflects
a. the actions of sellers.
b. quantity supplied.
c. sellers' costs.
d. the amount that will be purchased by consumers in the market.
c
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Compared to a proprietorship, a disadvantage of a partnership is
A) that profits are taxed twice. B) that it is harder to keep the firm going after the death of an owner. C) unlimited liability. D) that potential liability to each partner is greater.
The Marshall Kiwanis Club noticed the organizer of their bratwurst booth, at the Celebrate Marshall Festival, seemed more interested in the size and flair of their booth than the cost of achieving it. This excessive interest in prestige of the booth rather than profits made for charity is an example of stakeholder rights
Indicate whether the statement is true or false
After watching a movie, Alan chooses not to watch a second and goes for a walk instead. Economists could explain his choices using the concept of:
A. budget constraints. B. substitution effect. C. income effect. D. diminishing marginal utility.
Refer to the information provided in Figure 3.9 below to answer the following question(s).
Figure 3.9Refer to Figure 3.9. Assume there are only two people in the market for coconuts: Sasha and Kyle. Along the ________, at a price of $10, quantity demanded would be 5.
A. demand curve for Kyle only B. market demand curve C. demand curve for either Sasha or Kyle D. demand curve for Sasha only