Producer surplus equals
A) total revenue minus total variable cost.
B) total revenue minus the sum of all marginal cost.
C) profit plus fixed cost.
D) All of the above.
D
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Average real wages have not risen significantly since approximately 1973
a. True b. False Indicate whether the statement is true or false
The demand curve facing an oligopoly will be less elastic
A. the larger its share of the market and the more differentiated the product. B. the smaller its share of the market and the more differentiated the product. C. the larger its share of the market and the less differentiated the product. D. the smaller its share of the market and the less differentiated the product.
Which of the following would shift the saving schedule upward?
A. Consumer expectations of rising prices of products. B. Increased optimism about future incomes. C. A decrease in real interest rates. D. A decrease in wealth.
If a job pays a wage of $50 per hour, but has a non-wage cost valued at $20 per hour, the net benefit of taking the job equals:
A) $2.5 per hour. B) $20 per hour. C) $30 per hour. D) $70 per hour.