Refer to Figure 9.3. If the market is in equilibrium, total consumer and producer surplus is
A) $0.
B) $4.
C) $5.
D) $600.
E) $800.
D
Economics
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Suppose that the quantity of pizza demanded decreased by 15 percent after an increase in price of 10 percent. What is the price elasticity of demand for pizza?
A) 1.50 B) 0.67 C) -1.50 D) -0.67
Economics
To improve its standard of living, a nation's economy must
(A) Let the government make economic decisions. (B) Reach economic equality. (C) Grow through innovation. (D) Remain stable.
Economics