Stefano has just completed an original oil painting. After considering the costs for brushes, paint, canvas, and the value of Stefano's labor time, the marginal cost of the painting is 1,000. Lucky Stefano. One art lover paid him 1,500.
How much producer surplus did Stefano obtain? A) The amount of producer surplus cannot be determined from the information given.
B) 1,500
C) 1,000
D) 500
Question 2
In the above figure, a rent ceiling of 500 per month would
A) not affect the equilibrium quantity.
B) create a shortage.
C) raise the rent and cause a surplus.
D) reduce the rent and create a surplus.
John Lewis Krimmel’s painting of the Fourth of July in Centre Square Philadelphia (1812) shows the d
Artemisia Gentileschi, Self-Portrait as the Allegory of Painting.
Joan Miró, Painting.
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The original Supply and Demand graph
(a) Chromosome painting with five different-colored markers in a normal cell. (b) Painting produces