If an Individual Producer Is Willing to Produce One Unit

question 35

Multiple Choice

If an individual producer is willing to produce one unit of a good for $2.50 but finds he can sell it for $7.50,he has a producer surplus of:

• A)$10.00.
• B)$7.50.
• C)$5.00.
• D)$6.25.

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Definitions:

UCC

Stands for the Uniform Commercial Code, which is a comprehensive set of laws governing all commercial transactions in the United States.

Electrical Portion

The part of a system or device that pertains to or operates through the use of electricity.

Lowest Bid

The least amount of money offered by a contractor to complete a specified project or job in a bidding process.

Stock Exchange

A marketplace where securities, such as stocks and bonds, are bought and sold.