If producing a soccer ball costs Jake $5, and he sells it for $40, his producer surplus is $35

a. True
b. False
Indicate whether the statement is true or false


True

Economics

You might also like to view...

A bank's required reserves are the fraction of deposits they are required by law to hold as reserves

Indicate whether the statement is true or false

Economics

Suppose the market supply curve is p = 5 + Q. If price increases from 10 to 15, the change in producer surplus is

A) 12.5. B) 5. C) 50. D) 37.5.

Economics

What is the interest rate on a 12-month U.K. certificate of deposit if the dollar return on the certificate is 4 percent and the dollar has appreciated 9 percent against the British pound?

a. 15 percent b. 13 percent c. 9 percent d. 5 percent e. 4 percent

Economics

Suppose George's income is $10,000 and he pays a tax of $1,000, but Laura's income is $50,000 and she pays a tax of $4,000. Such a tax is:

A. regressive. B. progressive. C. proportional. D. flat.

Economics