Given the scenario described, if the market price of hammers increased from $8 to $14, total producer surplus would:
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13.
A. increase from $8 to $14.
B. increase from $1 to $12.
C. decrease from $14 to $8.
D. increase from $7 to $30.
B. increase from $1 to $12.
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A decrease in expected returns on investment will most likely shift the AD curve to the ________.
A. right because Ig will increase B. left because C will decrease C. left because Ig will decrease D. right because C will increase
Which of the following is a unique characteristic of the oligopolistic market structure?
a. low barriers to entry b. a large number of firms c. product differentiation d. mutual interdependence among firms
If the exchange rate changes from $1 = 1.2 euros to $1 = 1.4 euros, then the U.S. dollar _____ and the euro _____.
a) appreciated; depreciated b) depreciated; appreciated c) depreciated; depreciated d) appreciated; appreciated
A secure strategy is a strategy that:
A. randomizes over two or more available actions in order to keep rivals from being able to predict a player's action. B. results in the highest payoff to a player regardless of the opponent's action. C. describes a set of circumstances in which no player can improve her payoff by unilaterally changing her own strategy, given the other players' strategies. D. guarantees the highest payoff given the worst possible scenario.