Refer to the figure above. Social surplus can be increased by ________
A) increasing output above 13 million units
B) reducing output below 13 million units
C) increasing the price above $22
D) charging a price of $22
A
Economics
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Binding price floors benefit sellers because they allow sellers to sell all the goods they want at a higher price
a. True b. False Indicate whether the statement is true or false
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If a company is producing 2 units of output and the fixed costs are €25 and the variable costs are €100, what is the average total cost of producing two units?
(a) €50. (b) €12.50. (c) €62.50. (d) €25.
Economics