Refer to Figure 4-3. What area represents producer surplus at P2?

Refer to Table 1-1. What is Lydia's marginal benefit if she decides to stay open for an extra two hours instead of one hour?

A) $25 B) $50 C) $75 D) $125

The counterparty of someone buying a futures contract on the Chicago Board of Trade is::

A) Chicago Board of Trade B) hedger C) speculator D) trader