The idea that firms and resource suppliers, while seeking to further their own self-interests in a market economy, also promote the public interest describes:

The above figure shows the competitive market for turkey. The producer surplus for the 300 millionth pound of turkey is

A) $1.20 per pound. B) $135 million. C) $0.30 per pound. D) $0.80 per pound.

As income rises, the share of income spent on food in the United States

A) falls. B) remains constant at 15 percent. C) remains constant at 33 percent. D) rises.