The wheat growing industry consists of very many farmers producing identical products. The market structure that best fits the wheat growing industry is probably

When a commercial bank lends $1000 to a customer

A) M1 and M2 decline by $1000. B) M1 and M2 rise by $1000. C) M1 rises but M2 does not change. D) there is no change in M1 or M2 until the loan proceeds are spent.

Refer to Table 4-14. The equations above describe the demand and supply for Pauline's Pickled Pomegranates. The equilibrium price and quantity for Pauline's Pickled Pomegranates are $30 and 15 thousand units. What is the value of consumer surplus?

A) $50 thousand B) $112.5 thousand C) $225 thousand D) $337.5 thousand