In a figure that shows a supply curve and a demand curve, producer surplus is the area
A) below the demand curve and above the market price.
B) below the supply curve and above the market price.
C) above the demand curve and below the market price.
D) above the supply curve and below the market price.
E) between the demand curve and the supply curve.
D
You might also like to view...
Suppose that the equilibrium price of apples decreases and the equilibrium quantity of apples increases. This is best explained by a(n):
A. decrease in the demand for apples. B. increase in the demand for apples. C. decrease in the supply of apples. D. increase in the supply of apples.
An overvalued exchange rate is an exchange rate:
A. that equals the number of units of a foreign currency over the number of units of domestic currency. B. at which the quantities of currencies demanded and supplied in the foreign exchange market are equal. C. that has an officially fixed value greater than its fundamental value. D. that has an officially fixed value less than its fundamental value.
How do unlimited and limited liability differ?
What will be an ideal response?
If imperfect information characterizes workers' behavior, then there will be a
A) slow adjustment of the demand for labor, Nd. B) rapid adjustment of the demand for labor, Nd. C) rapid adjustment of both the demand for labor, Nd, and the supply of labor, Ns. D) a lagged adjustment of the equilibrium level of employment, Ns.