Refer to the figure above. What is the surplus enjoyed by the firm when it is the sole supplier of the medicine?
A) $30
B) $60
C) $90
D) $180
C
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"Aggregate planned expenditure is the sum of planned consumption expenditure, investment, government expenditures on goods and services, and exports minus imports." Is the previous statement correct or incorrect?
What will be an ideal response?
Which would be least likely to cause the production possibilities curve to shift to the right?
a. An increase in the labor force. b. Improved methods of production. c. An increase in the education and training of the labor force. d. A decrease in unemployment.
According to economic analysis, while making a decision, an individual compares the benefits expected from one option with the benefits expected from other options
a. True b. False Indicate whether the statement is true or false
Suppose the equilibrium price of a physical examination ("physical") by a doctor is $200, and the government imposes a price ceiling of $150 per physical. As a result of the price ceiling,
a. the demand curve for physicals shifts to the right. b. the supply curve for physicals shifts to the left. c. the quantity demanded of physicals increases and the quantity supplied of physicals decreases. d. the number of physicals performed will increase.