If Martin sells a shirt for $40, and his producer surplus from the sale is $8, his cost must have been

As in the United States, an important factor in the banking crises in Latin America was the

A) financial liberalization that occurred in the 1980s. B) decline in real interest rates that occurred in the 1980s. C) high inflation that occurred in the 1980s. D) sluggish economic growth that occurred in the 1980s.

Economies of scale are

A) charges to savers and borrowers imposed by banks in exchange for reducing transactions costs. B) the reduction in costs per unit that accompanies an increase in volume. C) decreases in transactions costs that occur as information costs increase. D) decreases in information costs that occur as transactions costs increase.