Refer to the scenario above. If the fourth household pays the lowest percentage of its income as tax, it can be inferred that the government follows a ________ tax system

Refer to the above table. The table represents information on the costs for Ajax Corporation. Ajax operates in a perfectly competitive market and the price of the product is $7. What does profit equal when quantity equals 2?

A) $14 B) -$2 C) $16 D) $2

Consumer surplus measures the value between the price consumers are willing to pay and the:

a. producer surplus price. b. deadweight gain price. c. actual price paid. d. preference price.