According to the graph shown:
A. consumer surplus is greater than producer surplus.
B. producer surplus is greater than consumer surplus.
C. total surplus is smaller than consumer surplus.
D. total surplus is smaller than producer surplus.
A. consumer surplus is greater than producer surplus.
You might also like to view...
As depicted in the circular flow diagram, firms
A) supply the resources that households demand in factor markets. B) demand the goods and services that households supply in product markets. C) demand the resources that households supply in product markets. D) supply the goods and services that households demand in product markets.
Refer to the scenario above. What is the opportunity cost of printing one notebook?
A) 0.5 magazines B) 1 magazine C) 2 magazines D) 30 magazines
Which of the following statements is correct?
A) The Fed is fully insulated from external pressures due to the long terms that members of the Board of Governors serve. B) The Fed is fully insulated from external pressures because it does not need to go through the normal congressional appropriations process. C) The Fed is fully insulated from external pressures because it has a constitutional mandate. D) The Fed is only partially insulated from external pressures.
The different rights and responsibilities which owners, workers, and managers have in different forms of business are referred to as contractual constraints
Indicate whether the statement is true or false