Total surplus or gains created from trade equal
a. Seller surplus
b. Buyer surplus
c. The summation of seller and buyer surplus
d. Profits earned by a firm
c
Economics
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Suppose that a bond promises to pay $107 next year but the interest rate falls from 7 percent to 3 percent per year. How much will the price of the bond be and why?
What will be an ideal response?
Economics
Suppose the market for potatoes can be expressed as follows:
Supply: QS = -20 + 10p Demand: QD = 400 - 20p If the government sets a maximum price of $10 per unit, what will be the quantity demanded and quantity supplied?
Economics