Jane makes 1000 items a day. Each day she spends 8 hours producing those items. If hired elsewhere she could have earned $250 an hour. The item sells for $15 each. Production occurs seven days a week. If the explicit costs total $150,000 per month, what is her accounting profit?

If a country is a price taker for a good in the world market, ________

A) its consumption and production decisions of the good play a key role in determining world prices B) its consumption and production decisions of the good do not affect world prices C) its demand for the good remains the same irrespective of changes in world prices D) it is the only exporter of the good in the world market

In the above figure, the total consumer surplus at the efficient level of output is ________

A) $4.5 million B) $9.0 million C) $2.5 million D) $8.5 million