Which of the Following Expressions Can Be Used to Calculate

question 44

Multiple Choice

Which of the following expressions can be used to calculate the producer surplus (PS) ?

• A) PS = profit * output
• B) PS = profit + fixed cost
• C) PS = variable cost - fixed cost
• D) PS = average cost * output

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Definitions:

Intangible

Unable to be touched or physically measured; not having physical presence.

Cultural Universals

Common cultural features found in all societies.

Interminling

The action of mixing or blending together different elements, groups, or substances.

Countercultural Groups

are social groups that reject the prevailing norms and values of society in favor of alternative lifestyles or beliefs.