Refer to the figure above. What is the producer surplus after Lithasia opens up to free trade?
A) $2
B) $3
C) $6
D) $9
B
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Suppose the average productivity of workers in Country A is equal to that of workers in Country B. If Country A has higher total efficiency units of labor than Country B, it implies that ________
A) Country B has a larger supply of workers B) Country A has a larger supply of workers C) Country B has a larger stock of capital D) Country A has a larger stock of capital
If the exchange rate is 0.8 euro per dollar, one dollar is equal to 1.25 euros
Indicate whether the statement is true or false
Why do firms in an oligopoly find it difficult to cooperate and not cheat on a cartel agreement?
What will be an ideal response?
If the monopolist can sell 10 units at a price of $7 and 11 units at a price of $6.50, the marginal revenue of the 11th unit is
A. -$1.50. B. 0. C. $1.50. D. $6.50.