Jennifer wants to buy a pound of cheese. She is willing to pay up to $5 per pound for her favorite brand. A local store currently sells her favorite brand for $4 but is willing to receive $3.50 per pound. The surplus earned by the store is _____
a. $0.50
b. $1
c. $1.50
d. $4
a
Economics
You might also like to view...
If a bank has excess reserves of $4,000 and demand deposit liabilities of $100,000, and if the reserve requirement is 10 percent, then the bank has actual reserves of
A) $14,000. B) $19,000. C) $24,000. D) $29,000.
Economics
Approximately what percentage of total health care spending goes toward hospital care?
a. One-tenth. b. One-fifth. c. One-fourth. d. One-third. e. One-half.
Economics
Refer to the above graph. At output level H, the area of economic profit is:
A. ACG. B. 0AEH. C. BCGF. D. BAEF.
Economics
When the interest rate falls, the:
A. Asset demand for money decreases B. Transactions demand for money increases C. Total amount of money demanded increases D. Total amount of money demanded decreases
Economics