Refer to the table above. What is Seller 3's producer surplus?
A) $1
B) $2
C) $3
D) $4
A
Economics
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According to the modern expectational Phillips curve, unemployment will equal the natural rate of unemployment when
a. any inflation is present. b. inflation turns out to be lower than what people expected. c. inflation turns out to be higher than what people expected. d. inflation turns out to be equal to what people expected.
Economics
(Advanced analysis) If S = -60 + .25Y and I g = 60, where S is saving, I g is gross investment, and Y is gross domestic product (GDP), then the equilibrium level of GDP is:
A. $200. B. $320. C. $360. D. $480.
Economics