Caroline is an artist. She purchases canvas, paints, brushes, and accessories for $75. She sells one of her original paintings to an art gallery for $1,500, which, in turn, sells it to an art lover for $4,500. How much value does the gallery add?
A) $1,425 B) $1,500 C) $3,000 D) $4,500
C
Economics
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According to the table shown, which year is most likely being used for the base year?
A. 2010
B. 2011
C. 2012
D. 2013
Economics
Suppose televisions are a normal good and buyers of televisions experience a decrease in income. As a result, consumer surplus in the television market
a. decreases. b. is unchanged. c. increases. d. may increase, decrease, or remain unchanged.
Economics
Which country best reinforces the idea that a low real GDP per capita leads to a low life expectancy?
a. Pakistan b. Nigeria c. Bangladesh d. Afghanistan
Economics
In the short run, wages are assumed to be: a. constant
b. sticky. c. inflexible. d. all of the above are true.
Economics