Refer to Table 4-7. 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 consumer surplus?
A) $50 thousand B) $112.5 thousand C) $225 thousand D) $337.5 thousand
C
Economics
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In the above figure, if the price is $8 per unit, how many units will a profit maximizing perfectly competitive firm produce?
A) 5 B) 20 C) 30 D) 35
Economics
Government statisticians adjust GDP figures to include estimates of
A) the value of homemaking (work done within the home). B) the underground economy. C) child-rearing services provided by stay-at-home parents. D) the costs of pollution to society.
Economics