Suppose Alice sells a good for $60 on eBay. If the producer surplus from the sale is $25, Alice's cost of the good must have been:

Briefly describe changes in life expectancy, average height, and infant mortality in the United States since 1850

What will be an ideal response?

Suppose robotic technology improves the results of abdominal surgery—less time to perform the surgery, faster recovery times, and fewer mistakes. What is the impact on the market for abdominal surgery using this new technology?

a. Demand for robot-assisted surgery will increase. b. Hospitals will be slow to adopt the new technology fearing that it may result in lower prices. c. The demand for surgical assistants will increase. d. All of the above.