Martha used to pay for her expenses with her own hard-earned money. She always tried to spend as little as she could. However, she started spending more when she received a scholarship . This behavior is an example of ________

On a diagram of a production possibilities frontier, opportunity cost is represented by the slope of the production possibilities frontier

Indicate whether the statement is true or false

Refer to Table 4-14. The equations above describe the demand and supply for Pauline's Pickled Pomegranates. The equilibrium price and quantity for Pauline's Pickled Pomegranates are $30 and 15 thousand units

What is the value of economic surplus in this market? A) $50 thousand B) $112.5 thousand C) $225 thousand D) $337.5 thousand