Graphically, producer surplus is the:
A) difference between the demand curve and the price a consumer pays.
B) difference between the supply curve and the price a consumer pays.
C) difference between total cost and total revenue.
D) product of price of a good and quantity sold.
Question 2
The pressure on corporate executives to maintain the market price of their company's stock gives them an incentive to
A) engage in insider trading.
B) ignore the political consequences of what they do.
C) produce goods subject to rapid obsolescence.
D) pursue short-run profits at the expense of the company's long-run welfare.
E) take account in their decisions of the probable long-run effects.
The titration curve of acetic acid
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