If price received equals 5 USD/unit and the cost of production equals 2 USD/unit, then PS equals:
A) 2 USD
B) 5 USD
C) 3 USD
D) 7 USD
Correct Answer:
Verified
Q13: Price ceilings help:
A) All consumers
B) All producers
C)
Q14: Welfare economics is:
A) Giving money to poor
Q15: consumer surplus measures all except:
A) The surplus
Q16: Producer surplus measures all except:
A) The surplus
Q17: If consumer willingness to pay equals 5
Q19: The units for CS and PS are:
A)
Q20: All government policies and programs result in:
A)
Q21: Who benefits from a price ceiling:
A) Producers
B)
Q22: Two measures of the overall size of
Q23: GDP measures:
A) The value of all expenditures
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents