Assuming peaches are a normal good and consumer incomes rise, producer surplus in the peach market:
a. increases. b. decreases.
c. remains unchanged. d. equals the deadweight loss increase.
a
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In the short run, a monopoly may
a. only earn positive economic profits. b. only earn zero economic profit, c. earn positive economic profits or economic losses. d. only earn economic losses.
The United States typically experiences a large surplus of milk annually. This is caused by
a. a price ceiling in the market. b. not enough demand for milk. c. a price floor in the market. d. overproduction of milk by the cows.
Refer to the information provided in Table 31.2 below to answer the question(s) that follow.Table 31.2PeriodQuantity of Labor (L)Quantity of Capital (K)Total Output (Y)1 50 50 2002 50 60 2153 50 70 2254 50 80 230Refer to Table 31.2. During Period 4, output per capital is equal to
A. 0.35. B. 1.77. C. 2.88. D. 4.6.
Referring to Table 4.1, Box D should be filled with 
A. $100. B. $1. C. $200. D. $0.