According to the graph shown, if this economy were an autarky, consumers would get area______ in consumer surplus:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. A.
B. ABC.
C. ABCDE.
D. ABCDEFG.
B. ABC.
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Joe runs a business and needs to decide how many hours to stay open. Figure 2.2 illustrates his marginal benefit of staying open for each additional hour. Suppose that we observe Joe staying open 3 hours per day
If he is following the marginal principle, what must his marginal cost per hour be? A) $24 B) $32 C) $40 D) $48
Refer to Figure 13.2. If Oliver's political views place him at the L4 position and George's political views place him at the C4 position, Alice's preference for mayor is
A) Oliver Cousins. B) George Glass. C) Alice is indifferent between the two candidates. D) Alice definitely does not like either candidate.