Author Question: Refer to the figure above. What is the producer surplus in the market? A) 20 B) 40 C) 60 D) ... (Read 60 times)

leo leo · **on:** Jun 29, 2018

Refer to the figure above. What is the producer surplus in the market?

A) 20
B) 40
C) 60
D) 80

Question 2

In 2002 some politicians and many representatives of the steel and iron-ore mining industries in the U.S. complained foreign steel producers were illegally dumping steel and contributing to a potential unemployment problem.

According to the economic way of thinking, their argument is questionable because A) it is not at all clear what the appropriate or correct price of steel is.
B) it is not at all clear what the appropriate or correct cost of steel is.
C) it is not at all clear that such an activity increases total unemployment in the U.S.
D) all of the above are true.