What is the present value of $777 in one year if the current rate of interest is 7 percent?

The time and invested funds involved in starting a lawn-cutting business address the economic concept of

A) the marginal principle. B) the principle of diminishing returns. C) opportunity cost. D) the real-nominal principle.

Producer surplus is the

A) cost of the good summed over the quantity sold. B) demand for a good minus the supply summed over the quantity sold. C) price of a good minus the marginal cost of producing it summed over the quantity sold. D) marginal cost of producing it summed over the quantity sold.