Consumer surplus in a market for a product would be equal to ________ if the market price was zero
A) zero
B) the area under the demand curve
C) the area between the supply curve and the demand curve
D) the area above the supply curve
B
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Use the following supply and demand graph to answer the question below. 
In the graph, line S is the current supply of this product, while line S1 is the optimal supply from the society's perspective. This figure suggests that there is (are)
A. external costs from the production of this product. B. external benefits from the production of this product. C. positive externalities from producing the good. D. currently an underallocation of resources toward producing this good.
Income per capita is ________
A) gross domestic product divided by total labor force B) gross domestic product divided by total population C) gross domestic product divided by total amount of capital used D) gross domestic product divided by total unit of all goods produced
Mercantilism followed feudalism. Unlike feudalism, mercantilism did not support any form of a strong central government or system of nation states
Indicate whether the statement is true or false
Very Technical is a firm that sells computing equipment. It costs Very Technical $50 for each order of computer monitors and the variable cost of placing an order is $2 per monitor. If Very Technical sells 1,000 computer monitors a year and they order 25 monitors, what is the annual ordering cost of the monitors?
A) $4,000 B) $10,000 C) $2,500 D) $50,000