Use the Following to Answer Question(s): Surplus and Supply

question 184

Multiple Choice

Use the following to answer question(s) : Surplus and Supply

-(Exhibit: Surplus and Supply) At output level OE, the total costs to sellers is _______ , the total revenues to sellers is _______ , and the producer surplus is _______ .

• A) OADE; OBDE; ABD
• B) OBDE; OADE; ABD
• C) OADE; OBDE; OAFE
• D) OBDE; OADE; OAFE

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Definitions:

FOB Point

A shipping term indicating the point at which the ownership and risk related to goods are transferred from seller to buyer, defined in terms of location.

Legal Title

A formal recognition of ownership of property or assets which includes the rights to use, sell, or control the said property or assets.

Containers On Flatcars (COFC)

A type of intermodal freight transport where shipping containers are carried on railroad flatcars for part of their journey.

Trailers On Flatcars (TOFC)

A freight system where trailers are transported on railway flatcars, combining road and rail transportation.