Kristi and Rebecca sell lemonade on the corner. It costs them 7 cents to make each cup. On a certain day, they sell 40 cups. Their producer surplus for that day amounts to $19.20 . Kristi & Rebecca sold each cup for

According to the text, an open economy is likely to have all the following EXCEPT

A) relatively more rapid spread of ideas. B) relatively more trade barriers. C) high technological progress. D) high economic growth.

In the above figure, if the market is competitive and unregulated, output will be

A) zero. B) 50 units per week. C) 150 units per week. D) 250 units per week.