The above figure shows the market for steel ingots. At the social optimum, the private producer surplus is
A) $1250.
B) $1875.
C) $2500.
D) $3100.
D
Economics
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Which of the following groups benefits from regulation, according to the special interest theory of regulation?
a. all consumers b. all producers c. only certain consumers d. only certain producers e. society as a whole
Economics
The function of an entrepreneur is to: a. bear business risks
b. organize the other factors of production. c. innovate. d. do all of the above.
Economics
An increase in demand is represented by a
a. movement downward and to the right along a demand curve. b. movement upward and to the left along a demand curve. c. rightward shift of a demand curve. d. leftward shift of a demand curve.
Economics
What are the reasons for unequal distribution of income? List at least six reasons.
What will be an ideal response?
Economics