The benefit to sellers of participating in a market is measured by the
a. amount of taxes collected on sales of the good.
b. producer surplus.
c. amount sellers receive for their product.
d. sellers' willingness to sell.
b
You might also like to view...
An example of a positive statement is:
A) The rate of unemployment is 4 percent. B) A high rate of economic growth is good for the country. C) Everyone in the country needs to be covered by national health insurance. D) Baseball players should not be paid higher salaries than the president of the United States.
The conversion of a barter economy to one that uses money
A) increases efficiency by reducing the need to exchange goods and services. B) increases efficiency by reducing the need to specialize. C) increases efficiency by reducing transactions costs. D) does not increase economic efficiency.