Suppose sugar is exported from a nation. In the sugar market who does NOT benefit from the exports?
A) domestic consumers
B) domestic producers
C) workers in the industry
D) foreign consumers
A
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Use the following market data to answer the question below.Price per UnitQuantity Purchased by ConsumerQuantity Sold by Producer$52,0000101,800300151,600600201,400900251,2001,200301,0001,500In the market shown in the table, the marginal benefit of 1,200th unit is
A. $25. B. $10. C. $20. D. $15.
If in the economy, business saving equals $240 billion, household saving equals $15 billion and government saving equals -$150 billion, what is the value of national saving?
A. $415 billion B. $105 billion C. $265 billion D. $250 billion
When the government taxes a good or service, it
A) increases consumer surplus for the good or service. B) increases producer surplus for the good or service. C) eliminates the deadweight loss associated with the good or service. D) affects the market equilibrium for that good or service.
Competitive firms that maximize profits will hire workers until the value of the marginal product of labor
a. equals the wage. b. equals the price of the final good. c. begins to fall. d. begins to rise.