Diana is a personal trainer whose client Charles pays $80 per hour-long session. Charles values this service at $100 per hour, while the opportunity cost of Diana's time is $75 per hour. The government places a tax of $10 per hour on personal trainers. Before the tax, what is the total surplus?

a. $25
b. $20
c. $5
d. $0


a

Economics

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Indicate whether the statement is true or false

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Although wages, incomes, and interest rates are most often discussed in real terms, what matters most are their nominal values.

a. true b. false

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Which of the following statements is true of stepwise regression?

A. In a stepwise regression, the dependent variable is regressed on each independent variable individually with an attempt to understand the effect of each independent variable on the dependent variable. B. In a stepwise regression, the dependent variable is regressed on different combinations of the independent variable with an attempt to come up with the best model. C. In a stepwise regression, the dependent variable can take up binary values only while the explanatory variables can take up quantitative values. D. In a stepwise regression, the dependent variable can take up quantitative values while the explanatory variables can take up only binary values.

Economics