The above figure shows the competitive market for turkey. The producer surplus for the 300 millionth pound of turkey is
A) $1.20 per pound.
B) $135 million.
C) $0.30 per pound.
D) $0.80 per pound.
C
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Carlos pays his cable bill using his bank's internet banking web site to withdraw funds from his checking account. This transaction is a(n):
A. e-money transaction. B. automated clearinghouse transaction (ACH). C. Fedwire transaction. D. digitized-check transaction.
An assumption underlying indifference curve analysis is that MUx/MUy ________ as less of X and more of Y is consumed.
A. decreases B. remains constant C. always equals one D. increases
"A tax cut will lead to higher inflation" is an example of a positive economic statement
a. True b. False Indicate whether the statement is true or false
Moral hazard occurs when contracts are written in such a way that
A) the interests of agent and principal converge. B) the interests of agent and principal diverge. C) agents will wish to maximize the principal's utility. D) production and risk-bearing efficiency are achieved.