Dana wants to try working as an independent contractor this summer. She has a 50 percent chance that she will make $10,000 and 50 percent chance that she will make nothing. What's Dana's expected income from taking this job?

In the above figure, if the market price is $100 per ton, then the firm's producer surplus on the second ton of wheat is

A) $25. B) $50. C) $75. D) $100.

A firm that is a "pure monopoly" is

a. a seller of a highly advertised and differentiated product in a market with low barriers to entry in the long run. b. the only seller of a good for which there are no good substitutes in a market with high barriers to entry. c. the only buyer of a unique raw material. d. the producer of a product subsidized by the government.