Refer to Figure 9.9. Now suppose an import quota of 3000 trucks is imposed. The quota will make total domestic producer surplus equal to
A) $2,500.
B) $5,000.
C) $5,000,000.
D) $10,000,000.
E) $30,000,000.
C
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The learning curve indicates that
A) economies of scale are taking effect. B) repetition of various production tasks cause unit costs to decrease. C) workers must learn new skills in order to improve. D) it takes time to learn a new skill.
Ceteris paribus, an increase in consumers' income will result in: a. a decrease in demand for an inferior good
b. an increase in demand for an inferior good. c. a decrease in the quantity supplied of an inferior good. d. an increase in the quantity supplied of an inferior good.
Movements of workers from country to country can cause shifts in the labor supply curves for both countries
a. True b. False Indicate whether the statement is true or false
Refer to the graph shown. Between points C and D, marginal utility is:
A. positive, and so total utility is increasing. B. decreasing, and so total utility is falling. C. positive, and so total utility is falling. D. decreasing, and so total utility is at its maximum.