The total of consumer plus producer surplus is ________ at the market equilibrium.
A. smallest
B. negative
C. greatest
D. zero
Answer: C
You might also like to view...
What is an inside director?
A) a movie director who also appears in the movie B) the CEO that is selected by the corporation's board of directors C) a board of director chair who has been in the job for at least three years D) a member of a corporate board of directors that is also a manager of the business
Subjective evaluations
A) lend themselves to easy measurement. B) are objective in nature. C) are directly measured by productivity. D) are based on opinion.
If you are currently producing at a level where average fixed cost and average variable cost are the same, your average total cost has been minimized
Indicate whether the statement is true or false
The vertical distance between the total cost and the total variable cost curves differs by an amount that:
A. initially increases, but then decreases, as output increases. B. is constant as output changes. C. decreases as output increases. D. increases as output increases.