The highest concentration ratio

For society, when is a good NOT scarce?

a) if at least one individual in society can obtain all he or she wants of the good b) if firms are producing at full capacity c) if all members of society can have all they want of the good d) if those who have enough income can buy all they want of the good

Refer to Figure 9-1. Suppose the government allows imports of leather footwear into the United States. The market price falls to $18. What is the value of domestic producer surplus?

A) $0 B) $40 C) $320 D) $360