The slope of the budget line is determined only by the prices of the commodities purchased

Mary is willing to pay $50 for a Christmas tree, John is willing to pay $45 and Jeff is willing to pay $40. The price of a tree is $40. The total consumer surplus for Mary, John and Jeff taken together is

A) $15. B) $135. C) $40. D) $95. E) $120.

Every year Mary rents a tiller from the local hardware store and turns over the soil in her yard to plant her garden. She decides how big a plot to till and when she is finished, she returns the tiller to the hardware store. From that point on, Mary is operating in the

a. long run because she has designated the size of her plot b. long run because the growing season is only a few months long c. short or long run because she can always decide not to plant any vegetables d. short run because she has chosen her scale of operation e. short run because once she waters the garden, she cannot get the water back