The above figure shows the U.S. market for chocolate. With no international trade, consumer surplus is equal to ________ and producer surplus is equal to ________
A) area A + area B + area C + area D; area E
B) area B + area C + area D; area A + area E
C) area A; area E
D) area C + area D; area B + area E
E) area E; area A + area B + area C + area D
C
Economics
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Governments, not markets, have the best record of allocating investment resources into those projects with the highest expected rate of return
Indicate whether the statement is true or false
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The process of negotiation between union and management to arrive at a labor contract is called
a. arbitration b. mediation c. reconciliation d. collective bargaining e. impasse
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