The concept of surplus can:
A. show who loses from minimum wage.
B. show the benefits of introducing new markets.
C. show who benefits from a tax.
D. show any of these.
Answer: D
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A technological change that raises the value of marginal product of capital ________ the rental rate of capital because the ________
A) raises; supply curve of capital shifts leftward B) lowers; supply curve of capital shifts rightward C) raises; demand curve for capital shifts rightward D) lowers; demand curve for capital shifts leftward
Financial futures contracts are regulated by
A) the Commodity Futures Trading Commission. B) the Federal Trade Commission. C) the Interstate Commerce Commission. D) the Options and Futures Commission.
The market demand for wheat is Q = 100 - 2p + 1pb, where pb is the price of barley. If the price of wheat is $2, the price elasticity of demand
A) equals (-4/46). B) equals (-46). C) equals (-1). D) cannot be calculated without more information.
Which of the following statements is true? a. Demand refers to how much of a good a consumer is willing to purchase at all prices
b. Demand refers to how much of a good a consumer is able to purchase at all prices. c. Demand refers to how much of a good a consumer is able to consume during a given period of time. d. Demand refers to how much of a good a consumer is willing and able to purchase at all prices.