Given the scenario described, if the market price of hammers increased from $9 to $12, total producer surplus would increase by:
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. $1.
B. $3.
C. $5.
D. $7.
C. $5.
You might also like to view...
The tax multiplier is ________ than the expenditures multiplier. This is because with the ________ multiplier a portion of the change is used for savings, but with the ________ multiplier, real GDP is impacted by the full amount of the change.
A. less; tax; expenditures B. greater; expenditures; tax C. greater; tax; expenditures D. less; expenditures; tax
The New York Stock Exchange is the only place where a corporation can sell stocks and raise money
a. True b. False Indicate whether the statement is true or false
A decrease in taxes ____ aggregate demand through larger _____ by households
Fill in the blank(s) with correct word
Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.
Figure 6.2Refer to Figure 6.2. Mr. Lingle's budget constraint is AC. Point E is
A. not in Mr. Lingle's opportunity set but is on his budget constraint. B. an available option and Mr. Lingle does not spend all of his income. C. an available option and Mr. Lingle exactly spends all of his income. D. not available because it represents a combination of gardenburgers and beer that Mr. Lingle cannot purchase with his current income.