Refer to the figure above. What is the producer surplus when Lithasia opens to free trade?

Dennis notices that jackets are on sale for $99. In this case money is functioning as a

A) medium of exchange. B) unit of account. C) store of value. D) payments-system ruler.

When the price of cable modems decreased from $100 to $85, the number of cable modems produced fell from 1,000 per week to 850 per week. Using this information, we know the supply of cable modems is

A) elastic. B) inelastic. C) unit elastic. D) perfectly inelastic.