Refer to Figure 9.3. If the market is in equilibrium, the producer surplus earned by the seller of the 100th unit is
A) $0.50.
B) $0.75.
C) $1.50.
D) $2.00.
E) $2.75.
C
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Often bar owners will require that patrons stand in a line to get a wristband entitling them to pay a preferred price for drinks if they arrive early to the bar
The wristbands are typically tamper- resistant and can be easily identified if patrons have been switching wristbands with other customers. What is the bar owner concerned about and why does he make his patrons wear these bands?
If the LM curve is subject to wider fluctuations than the IS curve, the Federal Reserve could minimize GDP fluctuations by targeting
A) money demand. B) money supply. C) the interest rate. D) the price level.
The transactions demand for holding money is when people hold money:
a. instead of near money. b. to transact purchases they expect to make. c. as insurance against unexpected expenses. d. to speculate in the stock market. e. to take advantage of changes in interest rates.
The international institution that serves as a lender of last resort is called the
A) IBRD. B) WTO. C) IMF. D) World Bank.