Japan and Germany are two major __________-oriented systems

Consumer sovereignty refers to a situation in which there is only one "sovereign" consumer deciding what is to be produced in the market

Indicate whether the statement is true or false

If Sam sells his product for $10 per unit net of costs and just breaks even after transporting it 5 miles to the market, Susan, who lives only 2 miles from the market will

a. experience lower profits b. earn a location rent c. find it profitable to purchase Sam's land d. derive a consumer's surplus e. none of the above