Assume the market in the graph shown with demand D and supply S1 is in equilibrium at a quantity of 5 units. Producer surplus is:

The accumulated training and education that you have is

A) physical capital. B) entrepreneurship. C) economic goods. D) human capital.

Even though mass transit systems such as buses are available in most cities in the United States, many residents decide to drive to work in their own vehicles because

A) the opportunity cost of riding a bus is too high for them. B) there is no opportunity cost of them to drive. C) they are not aware of the opportunity cost of driving. D) they do not behave according to the economic way of thinking.