Refer to Figure 4-7. The figure above represents the market for iced tea. Assume that this is a competitive market. If 10,000 units of iced tea are sold
A) the deadweight loss is equal to economic surplus.
B) producer surplus equals consumer surplus.
C) marginal benefit is less than marginal cost.
D) the marginal benefit of each of the 10,000 units of iced tea equals $3.
D
Economics
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The abnormal net income model defines the market value of a firm
A) is its book value minus the present value of expected economic profits. B) is its book value plus the present value of expected economic profits. C) is its book value divided by the present value of expected economic profits. D) is its book value multiplied by the present value of expected economic profits.
Economics
The paper money used in the United States is:
A. National Bank Notes. B. Treasury Notes. C. United States Notes. D. Federal Reserve Notes.
Economics