In the above figure, what is the amount of consumer surplus at the efficient quantity?

A monopsonist is currently employing 50 workers at $10 an hour. It wants to hire an additional worker, but will have to pay the worker $10.10. The marginal factor cost is

A) ten cents. B) $10.00. C) $10.10. D) $15.10.

If a nation has an absolute advantage in the production of some commodity, it

A. can gain only if it has a comparative advantage in the commodity. B. may still gain from trade in the commodity. C. cannot gain from trade in the commodity. D. cannot gain unless it has an absolute advantage in every other commodity.