If an Individual Producer Is Willing to Produce One Unit

question 80

Multiple Choice

If an individual producer is willing to produce one unit of a good for $2.50 but is able to sell it for $7.50, then his or her producer surplus from the sale of that unit would be:

• A)$10
• B)$7.50
• C)$5
• D)$6.25

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Definitions:

Minor Child

A child who is legally underage and not considered capable of taking certain legal responsibilities.

Research Study

A systematic investigation designed to develop or contribute to generalizable knowledge through data collection, analysis, and interpretation.

Consent

Voluntary agreement or permission for something to happen, based on an understanding of what the action entails.

Child's Agreement

The consent or assent of a minor, under the age of legal competence, to participate in activities or decisions affecting them, often requiring parental permission.