The figure above shows Diane's demand curve for soda. The price of a soda is $1.00. Diane's total benefit from consuming 15 sodas is
A) $15.00.
B) $26.25.
C) $11.25.
D) $0.
E) None of the above answers is correct.
B
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Which of the following methods could be used to calculate GDP?
a. the sum of all spending on final goods and services b. the sum of all factor payments plus depreciation and indirect business taxes c. the sum of all values added at each stage of production d. All of the above could be used.
One point on a market supply curve represents $4 and 100 units quantity supplied. If there are three suppliers, and at a price of $4 one of the suppliers supplies 23 units, then which of the following combinations of price and quantity supplied might hold for the other two suppliers?
A) At $4, quantity supplied could be 40 units for one supplier and 27 for the other. B) At $4, quantity supplied could be 33 units for one supplier and 27 for the other. C) At $4, quantity supplied could be 40 units for one supplier and 37 for the other. D) At $4, quantity supplied could be 77 units for one supplier and 10 for the other. E) There is not enough information to answer this question.