If the producers' surplus is $50, and the consumers' surplus is $40, then what is the minimum selling price of the good?
A) $10
B) $40
C) $50
D) $90
E) There is not enough information to answer the question.
E
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Indicate whether the statement is true or false
Define the quantity theory of money and show how it is related to the equation of exchange
What will be an ideal response?
Goods that are not rival in consumption, but are excludable are:
A. a common resource. B. a private good. C. a public good. D. an artificially scarce good.
Which of the following is not an advantage of corrective taxes?
a. They raise revenues for the government. b. They enhance economic efficiency. c. They subsidize the production of goods with positive externalities. d. They move the allocation of resources closer to the social optimum.