From the perspective of the ____, the price at which a unit is exchange is the marginal cost of that unit.

To economists, the term "consumer surplus" means: Select one: a. the difference between the price a consumer is willing to pay and the price that suppliers are willing to accept. b. the excess money consumers have left over after purchasing goods. c. the consumer's net benefit from trading. d. the difference between the price a consumer is able to pay and willing to pay.

During a war, the government puts pressure on producers of military hardware, making their products more valuable. What theory about in does this represent? O cost-pull O cost-push O quantity O demand-pull

Answer the questions in the text

Markets are said to generate a benefit to society in the form of "gains from trade." These gains from trade can be calculated in the form of ___ A. the total surplus.B. the bargaining agreement.C. the producer surplus.D. the consumer surplus.

The graphs below show the world and Chinese Beef, Pork and Rabbit/Dog meat markets before the Swine Flu hits China. The world pork  and beef markets does not include the  Chinese markets. Notice that the world's meat markets are in long run equilibrium where the price of beef and pork are the same in China and the World. Outside of China no one eats dog and rabbit meat only the dog and rabbit market in China is depicted.  In China, Pork is an ( ) good. and dog meat is is an ( ) . . In the world, beef and pork are ( ) . The chart below shows historical change in GDP per capita in China from 1960 to 2014. The Change in the World illustrated in the chart is an ( ) in chinese income .  Consider possible changes in the Chinese meat markets depicted below.  The change in Chinese income from 1960 to 2014 shifted DStart to ( ) and Dstartto ( ). The changes in demand caused Dog and Rabbit meat prices to ( ) and the price of pork to ( )