If a seller enjoys a producer surplus of $30 when he sells a good for $79, his reservation value for the good is ________
A) $30
B) $49
C) $79
D) $109
B
Economics
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In terms of technological progress, economists interpret this as meaning an economy operates more efficiently by producing more output without using any more inputs
Indicate whether the statement is true or false
Economics
Your college bookstore buys a used textbook for $25 and sells it to you for $125. What happens to GDP?
A) It increases by $25. B) It increases by $100. C) It increases by $125. D) It increases by $150.
Economics
What was the GATT?
What will be an ideal response?
Economics
Which of the following economic effects of unions tends to improve efficiency?
A. Featherbedding B. Strike or lockout C. Union wage advantage D. Voice mechanism
Economics