Suppose that the total production of an economy consists of 10 oranges and 5 candy bars, each orange sells for $0.20, and each candy bar sells for $1.00. What is the market value of production in this economy?

Using the data in the above table, gross private domestic investment equals

A) $250. B) $260. C) $460. D) some amount that cannot be determined without more information.

Refer to Figure 9-3. What is the reduction in value of consumer surplus after the imposition of the quota?

A) $8 million B) $26.25 million C) $27.75 million D) $30 million