Graphically, a firm's profit per unit of output can be found by:
a. the triangle formed under the demand curve.
b. the rectangle formed under the demand curve at a given price and quantity combination.
c. the rectangle formed under the average-total-cost curve at a given ATC and quantity combination.
d. the distance between the demand and average-total-cost curves at any level of output.
e. the distance between the horizontal axis and the average-total-cost curves at any level of output.
d
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Indicate whether the statement is true or false
Refer to Table 4-14. The equations above describe the demand and supply for Pauline's Pickled Pomegranates. The equilibrium price and quantity for Pauline's Pickled Pomegranates are $30 and 15 thousand units. What is the value of consumer surplus?
A) $50 thousand B) $112.5 thousand C) $225 thousand D) $337.5 thousand