If Bill is willing to pay $10 for one good X, $8 for a second, and $6 for a third, and the market price is $5, then Max's consumer surplus is:

Refer to Figure 12-9. At price P3, the firm would produce

A) Q2 units B) Q3 units. C) Q4 units. D) Q5 units.

The tax treatment of corporate profit means that corporations

A. cannot profitably issue common stock. B. choose investment opportunities more efficiently than do other types of firms. C. limit the things in which corporations can invest. D. can generally avoid paying federal taxes but not state taxes.