Assume the price of tomatoes increases. Which of the following causes would correspond to greater producer surplus?
A) an increase in supply
B) an increase in costs
C) a decrease in supply
D) an increase in demand
D
Economics
You might also like to view...
When a monopolist is maximizing profit, which of the following conditions will always be satisfied?
a. P = MC b. MR = AVC c. P = ATC d. MR = MC
Economics
Curve (3) in the diagram is a purely competitive firm's:
A. total cost curve.
B. total revenue curve.
C. marginal revenue curve.
D. total economic profit curve.
Economics