Refer to Table 4-6. The equations above describe the demand and supply for Aunt Maud's Premium Hand Lotion. The equilibrium price and quantity for Aunt Maud's lotion are $20 and 30 thousand units. What is the value of producer surplus?

Tobin's q is defined as the market value of firms ________ the replacement cost of capital

A) times B) minus C) plus D) divided by

After 1616, Virginia shifted more and more scarce resources out of food production and into tobacco production. Hence, the economic cost of tobacco production included the sacrifice of food production

Indicate whether the statement is true or false