Mister Jones was selling his house. The asking price was $220,000, and Jones decided he would take no less than $200,000. After some negotiation, Mister Smith purchased the house for $205,000. Jones' producer surplus is

A) $5,000.
B) $15,000.
C) $20,000.
D) not able to be calculated from the information given.

Economics

According to the quantity theory of money, the quantity of money determines the

a. interest rate. b. level of real output. c. price level. d. level of employment.

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Economics

Why is collusion more likely in a repeated game?

What will be an ideal response?

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Economics