Total surplus in a market is equal to
a. value to buyers - amount paid by buyers.
b. amount received by sellers - costs of sellers.
c. value to buyers - costs of sellers.
d. amount received by sellers - amount paid by buyers.
c
Economics
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What is true about dominant strategies in the game in Scenario 13.10?
A) "Use more caffeine" and "have a sweepstakes" are dominant strategies. B) "Use more caffeine" and "create a diet soda" are dominant strategies. C) "Make animal-shaped bottles" and "have a sweepstakes" are dominant strategies. D) "Make animal-shaped bottles" and "create a diet soda" are dominant strategies. E) There are no dominant strategies.
Economics
If the firm hires 5 workers, the total amount of fixed costs equals
a. $250 b. $50 c. $200 d. $1200
Economics