Refer to the graph below. If the firm is producing at Q1, the area 0ADQ1 represents:

What is a normative statement? Give an example

What will be an ideal response?

If the price of pineapple juice was $4.50 a gallon and it is now $5.75 a gallon, what is the percentage change in price?

A) 7.8 percent B) 12.5 percent C) 27.7 percent D) 57.5 percent