Refer to the information provided in Figure 4.6 below to answer the question(s) that follow.Equilibrium in this market occurs at the intersection of curves S and D.
Figure 4.6Refer to Figure 4.6. At equilibrium, producer surplus is area
A. A.
B. G.
C. A + B + C.
D. E + F + G.
Answer: D
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When the number of substitutes increase, the demand curve for a monopolist will
A) not change. B) become more elastic. C) become more inelastic. D) become steeper.
For a firm in a perfectly competitive product market, the marginal resource cost curve is horizontal if the resource market is also competitive
a. True b. False
If the idea of herd instinct is true, it suggests that the:
A. efficient-market hypothesis doesn't always hold. B. efficient-market hypothesis does, in fact, hold. C. inefficient-market hypothesis doesn't always hold. D. inefficient-market hypothesis does, in fact, hold.
If the debt is financed externally, then the burden is incurred when the debt is financed.
Answer the following statement true (T) or false (F)