Refer to the scenario above. If Molly wins the auction by using her optimal bidding strategy, she will earn a surplus of ________

The productivity of the employees of a bakery is reduced because of the excessive noise coming from a next door car repair shop. This is an example of

A) synergy. B) a positive externality. C) a negative externality. D) happy coexistence.

Average cost equals total cost multiplied by the number of units of output.

Answer the following statement true (T) or false (F)