Suppose the market supply curve is p = 5 + Q. If price increases from 10 to 15, the change in producer surplus is

Conrad and Meyer (1958) counter Fogel and Engerman's (1974) claim that slave breeding was a myth by arguing that any profit-maximizing slave owner would consider slave breeding as long as:

(a) The expected rate of return from slave sales fell below the costs of rearing the slave to the age of sale. (b) Slavery was an irrational institution. (c) The expected rate of return from slave sales exceeded the costs of rearing the slave to the age of sale. (d) Slavery was an immoral institution.

Compounding refers directly to

a. finding the present value of a future sum of money. b. finding the future value of a present sum of money. c. changes in the interest rate over time on a bank account or a similar savings vehicle. d. interest being earned on previously-earned interest.