The highest price you are willing to pay for a pair of jeans is ...

[danielfitts88]

The highest price you are willing to pay for a pair of jeans is 20 . However, you are able to purchase it for 14 . This implies 6 is the producer surplus.
  Indicate whether the statement is true or false

Question 2

In the long-run, the entry of new firms in a competitive market shifts the aggregate supply curve to the left.
 a. True
  b. False
  Indicate whether the statement is true or false

[epscape]

Answer to Question 1

F

Answer to Question 2

False

[danielfitts88]

Great answer, keep it coming

[adammoses97]

Thanks for the timely response, appreciate it