The highest expenditure on a security item found in national spending at the federal, state, and local level is on

The production possibilities curve represents the maximum feasible production combinations resulting from

A) the mix of current resources that utilizes all available inputs using current technology. B) a fixed amount of demand by consumers. C) the lack of trade-offs in production. D) the lack of technology used in production.

Suppose a small island nation imports sugar for its population at the world price of $1,500 per ton. The domestic market for sugar is shown below.If the government provides a subsidy of $500 per ton, then producer surplus will be ________ per day.

A. $1,000 B. $8,000 C. $4,000 D. $0