Refer to the figure below.
If this market is unregulated, the economic surplus received by producers is:
A. $32.
B. $16.
C. $48.
D. $24.
Answer: B
You might also like to view...
Considering the value of a financial instrument, the sooner the promised payment is made:
A. the greater the risk, therefore the promise has greater value. B. the less valuable is the promise to make it since time is valuable. C. the more valuable is the promise to make it. D. the less relevant is the likelihood that the payment will be made.
If the equilibrium price of bread is $2 and the government imposes a $1.50 price ceiling on the price of bread, then:
A. more bread will be produced. B. there will be a shortage of bread. C. the demand for bread will decrease. D. producers will charge $0.50 for bread.
Using the income approach, net interest is included because
A. households both receive and pay interest. B. households pay but do not receive interest and firms receive but do not pay interest. C. firms pay but do not receive interest and households receive but do not pay interest. D. it is income to the government but not to households nor firms.
The term dollar votes in a market system means:
A. Inflation will occur if consumers don't spend wisely B. Voters may be offered dollars to help elect certain political candidates C. Government is responsible for determining what will be considered legal tender D. Consumers "vote" for certain products to be produced by how they spend their incomes