What is the expected revenue from developing the complicated software?
a. $10million
b. $15million
c. $20million
d. $50million
b
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Which of the following exemplifies a cause of increased international trade?
a. The Canadian government imposed new tariffs on imported maple syrup, whiskey, and ketchup. b. Modern shipping containers eliminate the need to unload and reload goods at each point of transfer. c. Small Business Saturday encourages holiday shoppers to patronize local brick-and-mortar stores. d. Green economic initiatives stress the benefits of pursuing environmental and social sustainability.
The following diagram shows the market demand schedule for a good. When the price of the good is P, the shaded area represents:
a. ?consumer surplus. b. ?marginal utility of the good. c. ?shortage. d. ?marginal valuation of the good. e. ?price floor.