Producer surplus measures the benefit to sellers from receiving a price above their costs

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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Once the problem of subsistence food growing had been solved, regional growth resulted in which of the following?

(a) Balanced growth across all sectors of the economy (b) Increased import growth and decreased export growth (c) Developed export activity (d) Faltering secondary industrial growth

Economics

Which of the following groups is most highly unionized?

a. private wage and salary workers b. government employees c. technical, sales, and service workers d. women

Economics

An increase in demand will induce entry by firms in the long run.

Answer the following statement true (T) or false (F)

Economics

Explain how a perfectly competitive market promotes productive efficiency (minimum average costs).

What will be an ideal response?

Economics