The above figure shows the U.S. market for replacement cell phone batteries. Area A + area E is the
A) consumer surplus when there is a tariff.
B) producer surplus when there is a tariff.
C) tariff revenue.
D) increase in producer surplus due to the tariff.
E) gain in total surplus due to the tariff.
B
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Which of the following is the source of funds for bank loans?
A) marketable securities B) required reserves C) excess reserves D) bank capital
A monopoly price reflects a good's marginal utility
a. True b. False Indicate whether the statement is true or false
The portion of food and expenditures associated with activities of firms beyond the farm gate is known as
A) value added. B) consumer surplus. C) the marketing bill. D) none of the above.
Given the demand curve in this graph, if price were $3.00, how much is consumer surplus?
A. $0
B. $1.50
C. $5.00
D. $10.50