Producer surplus in a perfectly competitive industry is
A) the difference between profit at the profit-maximizing output and profit at the profit-minimizing output.
B) the difference between revenue and total cost.
C) the difference between revenue and variable cost.
D) the difference between revenue and fixed cost.
E) the same thing as revenue.
C
Economics
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Which figure above shows the effect if research is published claiming that eating pizza is healthy?
A) Figure A B) Figure B C) Figure C D) Figure D E) Both Figure A and Figure D
Economics
The law of demand states that, other things equal, when the price of a good
a. falls, the demand for the good rises. b. rises, the quantity demanded of the good rises. c. rises, the demand for the good falls. d. falls, the quantity demanded of the good rises.
Economics