When a market is in equilibrium, the total amount of consumer surplus must be ________ the total amount of producer surplus

The scientific method can be applied to the study of economics

a. True b. False Indicate whether the statement is true or false

Skeptics have been historically incorrect about

A. the depletion of earth’s most valuable resources. As resource prices increase, more discoveries have been made. B. market-based approaches in reducing pollution. Zero pollution has been achieved. C. the depletion of earth’s most valuable resources. As resource prices decrease, firms are incentivized to sell all their holdings before prices continue to fall. D. state owned firms. They traditionally perform better than markets with pollution charges.