In the above figure, when the price of pretzels is $3.00 per pound, the total producer surplus from all the pretzels will be
A) zero.
B) greater than at any other price.
C) less than at any other price.
D) the sum of the difference between $3.00 and the marginal cost of all the pounds produced.
D
You might also like to view...
If an individual's supply of labor curve is positively sloped throughout, then:
a. the substitution effect always dominates the income effect. b. the income effect always dominates the substitution effect. c. the substitution effect dominates at low real wage levels and the income effect dominates at high real wage levels. d. the income effect dominates at low real wage levels and the substitution effect dominates at high real wage levels.
The city of Ann Arbor Michigan buys a police car manufactured in Germany. In the GDP accounts this transaction is included in
a. in government expenditures and exports.
b. government expenditures and imports.
c. exports, but not government expenditures.
d. imports, but not government expenditures.
Back in the Middle Ages, the only safe place to put your money was
A. in Treasury bills. B. in goldsmiths' safes. C. in real estate. D. in commodity futures.
If price were regulated to be equal to long-run marginal cost, the firm in Figure 13.3 would be:
A. making a zero economic profit. B. losing money. C. making a positive economic profit. D. breaking even.