In the short run,producers derive surplus from market exchange because _____
A) the price they receive is greater than the minimum amount they require to sell a good.
B) the price they receive is equal to the minimum amount they require to sell a good.
C) the price they receive is less than the minimum amount they require to sell a good.
D) market price equals average total cost.
E) they can charge higher prices for their products by restricting supply.
Correct Answer:
Verified
Q160: If an industry is a constant-cost industry,_
A)the
Q161: Which of the following is true of
Q162: Exhibit 8.13 Q163: If a market is allocatively efficient,_ Q164: When market exchange occurs voluntarily in a Q166: The combination of producer and consumer surplus Q167: Exhibit 8.13 Q168: Exhibit 8.13 Q169: Exhibit 8.13 Q170: To achieve allocative efficiency,firms _ 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
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A)firms produce
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A)strive to minimize