Which area in the above figure equals the producer surplus under perfect price discrimination?
A) A + B + C + D + E + F + G + H + I + J + K + L
B) A + B + C + D + E + F + G + H + I + J + K
C) A + B + C + D + E + F + G + H
D) C + D + E + F + G + H
C
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Japan's currency is called Yen. The value of Japan's income per capita in dollars is high if ________
A) the value of Japan's income per capita in yen is low B) the income per capita of the U.S. is high C) the dollar/yen exchange rate is high D) the dollar/yen exchange rate is low
When the fishing economy mobilized for war preparedness by drafting young men and women, many draftees came from fishing jobs. Picture the market for fish, before and after the mobilization. What happens to the price and quantity of fish on the market after the draft went into effect?
a. Both fish prices and quantity increased. b. Fish prices increased and quantity remained unchanged. c. The draft had no effect on the fish market. d. Fish prices decreased and quantity increased. e. Fish prices increased and the quantity decreased.