Suppose the market supply curve is p = 5Q. At a price of 10, producer surplus equals
A) 50.
B) 25.
C) 12.50.
D) 10.
D
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When a simple monopolist chooses to sell an additional unit of a good or service
a. marginal revenue will be equal to the going market price. b. marginal revenue will always be negative. c. it will only have to lower its price on the additional unit. d. it will have to lower its price on the additional unit and on all other units.
John can make pizza at a lower opportunity cost than Allen, but Allen can make more pizzas per day than John. Therefore,
A) John has an absolute advantage in pizza. B) Allen cannot benefit from trade with John. C) John has a comparative advantage in pizza. D) John cannot benefit from trade with Allen. E) Allen has a comparative advantage in pizza.
Compared to the poverty rate for non-Hispanic whites, the poverty rate for Hispanics is almost _______.
Fill in the blank(s) with the appropriate word(s).
It has been argued that the laws that prohibited branch banking were needed to protect consumers from large monopoly banks. Does that argument hold up to close scrutiny? Explain.
What will be an ideal response?