According to the graph shown, area C represents:
These are the cost and revenue curves associated with a monopolistically competitive firm.
A. producer surplus.
B. consumer surplus.
C. deadweight loss.
D. profits.
B. consumer surplus.
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The opportunity cost of a one-unit increase in an activity
A) is greater than the marginal benefit. B) is called rational cost. C) decreases as you do more of it. D) is called marginal cost. E) is measured by what the person is willing to give up to get one more unit of the activity.
Under an exchange-rate targeting rule for monetary policy, a crawling peg
A) fixes the value of the domestic currency to a commodity such as gold. B) fixes the value of the domestic currency to that of a large, low-inflation country. C) allows the domestic currency to depreciate at a steady rate so that inflation in the pegging country can be higher than that of the anchor country. D) allows the domestic currency to depreciate at a steady rate so that inflation in the pegging country can be lower than that of the anchor country.
Sales taxes are routinely collected by
A) the merchants selling the good or services. B) the Internal Revenue Service. C) the Department of Commerce. D) the Federal Trade Commission.
Compensation of employees is the largest component of GDP when using the expenditure approach to calculate GDP
Indicate whether the statement is true or false