The amount of revenues that sellers actually receive over and above the minimum acceptable amount that they are willing to receive for selling a product is called
A. production costs.
B. producers' supply.
C. consumer surplus.
D. producer surplus.
Answer: D
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If the U.S. dollar price of one Japanese yen was $0.009 in 1997 and $0.011 in 2001, then the reciprocal exchange rate adjusted from $1 = ¥111.1 in 1997 to $1 = ¥90.9 in 2001 . This implies that over this time period, the U.S. dollar experienced a depreciation relative to the Japanese yen
a. True b. False Indicate whether the statement is true or false
If fixed costs are $200,000 and variable costs are $30 per unit over the relevant range of output, when 10,000 units are produced, the average total cost will be
a. $20. b. $30. c. $50. d. $70.
The largest merger in American corporate history was between _____ and ________.
Fill in the blank(s) with the appropriate word(s).
When people donate money to a charity, they behave
A. in a way that only makes themselves worse off. B. rationally if the act gives them satisfaction. C. in an unpredictable manner because the act involves bounded rationality. D. irrationally because the act does not benefit anyone.