Refer to the figure above. What is the producer surplus after Barylia opens up to free trade?
A) $225
B) $550
C) $750
D) $900
D
You might also like to view...
The five categories of income used in the income approach to the measurement of GDP are
A) consumption, saving, rental income, corporate profits, and investment. B) employee compensation, net interest, rental income, corporate profits, and proprietor's income. C) employee compensation, consumption, rental income, corporate profits, and proprietor's income. D) employee compensation, saving, rental income, corporate profits, and investment.
When the quantity of labor demanded exceeds the quantity of labor supplied, the real wage rate
A) rises to eliminate the labor-market shortage. B) falls to eliminate the labor-market surplus. C) rises to eliminate the labor-market surplus. D) falls to eliminate the labor-market shortage.