Assuming the market is in equilibrium in the graph shown with demand D and supply S2 at a quantity of 8, producer surplus is:
A. less than the consumer surplus.
B. 28
C. $32.
D. 16
Answer: D
You might also like to view...
__________________ —a term referring to the activities that businesses can perform to take advantage of economies of scale.
a. Scarcity b. Division of labor c. Core competency d. Specialization
The demand curve facing a monopolist is
A. horizontal at the market price. B. identical to the market demand curve for the good. C. exactly twice as steep as the market demand curve for the good. D. vertical because there are no competitors.
Most development economists agree that the most basic and important task of any government is to:
A. maintain a stable currency. B. ensure basic education for all citizens. C. create a stable political system. D. provide national health care system.
All of the following are benefits of economic growth except
What will be an ideal response?