Which of the following will not shift the market supply curve for corn?
a. a change in the price of corn
b. a change in the price of soybeans
c. a change in the price of herbicides and pesticides
d. a change in storage technology
e. a change in the number of acres planted in corn
A
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Mary is willing to pay $50 for a Christmas tree, John is willing to pay $45 and Jeff is willing to pay $40. The price of a tree is $40. The total consumer surplus for Mary, John and Jeff taken together is
A) $15. B) $135. C) $40. D) $95. E) $120.
The above figure shows that the maximum amount a person is willing to pay for the 400th pretzel
A) is greater than the marginal social cost of the 400th pretzel. B) is less than the marginal social benefit of the 400th pretzel. C) and the marginal social benefit of the 400th pretzel are both $2. D) is greater than the marginal social benefit of the 200th pretzel.