If MC's Hammers, a perfectly competitive firm, finds that its total revenue is $45,000 . its fixed cost is $20,000 . and its total cost is $50,000 . its producer surplus is

In the economic way of thinking, traffic congestion is a sign of

A) a surplus of people. B) a surplus of automobiles. C) a shortage of buses. D) a negative externality.

Suppose sugar is exported from a nation. In the sugar market who does NOT benefit from the exports?

A) domestic consumers B) domestic producers C) workers in the industry D) foreign consumers