Refer to the above figures. Which panel best represents an indifference curve?

A. Panel A
B. Panel B
C. Panel C
D. Panel D

Answer: C

Economics

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The above figure shows the market for a particular good. If the market is controlled by a perfect-price-discriminating monopoly, compared to a perfectly competitive market, the change in producer surplus is

A) B + C. B) D + E. C) A + B + C. D) A + B + C + D + E.

Economics

Maurice Richard loves to play hockey. He would play the minor leagues and the major leagues with equal gusto. Suppose he earned $35,000 playing for the minor league Urbana Tigers and "gets the call" from the Dallas Stars, a major league team. He excitedly tells his wife, an economist, that his wage is now $379,000 (that's the contract he signed) and she informs him that his wage-related rent is

a. $344,000 b. $379,000 c. $35,000 d. $414,000 e. $0 because he signed the "wage" contract

Economics