Refer to the graph shown. When the market is in equilibrium, total surplus is area:
A. A plus area F plus area E plus area D.
B. A plus area F.
C. E plus area F.
D. A plus area B.
Answer: B
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If the required reserve ratio is one-third, currency in circulation is $300 billion, checkable deposits are $900 billion, and there is no excess reserve, then the monetary base is
A) $300 billion. B) $600 billion. C) $333 billion. D) $667 billion.
Relational contracts contract for every possible contingency
Indicate whether the statement is true or false
As a firm moves along its long-run average cost curve, it is adjusting the size of its factory to the quantity of production
a. True b. False Indicate whether the statement is true or false
The sampling variance for the instrumental variables (IV) estimator is larger than the variance for the ordinary least square estimators (OLS) because _____.
A. R2> 1 B. R2< 0 C. R2 = 1 D. R2< 1