In the above figure, if the market price rises from $100 to $125 per ton of wheat, then producer surplus
A) decreases.
B) does not change.
C) increases.
D) might increase, decrease, or not change depending on how the demand curve for wheat shifts.
C
Economics
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A monopolist is willing to lose some customers by charging higher prices, since this results in higher profits.
Answer the following statement true (T) or false (F)
Economics
Mutually beneficial trade is possible when the terms of trade are
A. between the seller's and buyer's opportunity cost. B. above the seller's opportunity cost and above the buyer's opportunity cost. C. between the seller's and buyer's general behavior. D. below the seller's opportunity cost and above the buyer's opportunity cost.
Economics