Refer to Table 4-14. The equations above describe the demand and supply for Pauline's Pickled Pomegranates. The equilibrium price and quantity for Pauline's Pickled Pomegranates are $30 and 15 thousand units
What is the value of economic surplus in this market?
A) $50 thousand B) $112.5 thousand C) $225 thousand D) $337.5 thousand
D
Economics
You might also like to view...
If the quantity demanded of hamburgers increases by 20 percent when the price decreases by 5 percent, then the price elasticity of demand is
A) 0.25. B) 4.0. C) 20.0. D) 5.0.
Economics
The Fed increases reserves if it conducts open market
a. purchases or auctions term credit. b. purchases but not if it auctions term credit c. sales or auctions term credit d. sales but not if it auctions term credit
Economics