Based on the quantity equation, if M = 100, V = 3, and Y = 150, then P =

In the figure above, the equilibrium market price is $20. $20 is the

A) marginal cost of the 150th unit. B) willingness to pay for the 1st unit. C) producer surplus. D) consumer surplus. E) deadweight loss.

GDP ignores the external costs of environmental degradation, and ignores the depletion of natural resources such as biodiversity, marine fishery stocks, groundwater basins, and soil fertility

Indicate whether the statement is true or false