If a marginal cost pricing rule is imposed on the firm in the figure above, the consumer surplus will be
A) zero.
B) $800.
C) $400.
D) $200.
B
You might also like to view...
According to the writer William Gibson, "The future is already here – it's just unevenly distributed." By this he means that:
a. Internet access, for example, is available to some but not to all b. Innovation access is readily available to all c. The low-income countries are catching up to the rich countries d. New technologies spread at an even pace
Which of the following is the same as a currency union?
A) a monetary union B) a currency pact C) a monetary pact D) a monetary area
When a firm earns less than a normal profit,
A. economic profit is zero. B. accounting profit is negative. C. revenues generated cannot pay all explicit costs and the use of owner-supplied resources. D. normal profit is negative.
Positive economics seeks to understand behavior, but not make judgments.
Answer the following statement true (T) or false (F)