If a consumer is willing to pay $20 for a pizza, but the price of the pizza is $10, then the consumer surplus resulting from the customer’s purchase of the pizza is:

If a restaurant that traditionally has served only lunch and dinner wants to open for breakfast, which of these factors should it consider?

The graph we could draw to represent the combinations of two goods that are possible within a given society at full employment is a(n):

(Figure: Biscuits and Cookies PPFs) Greg and Melissa face the production possibilities frontiers shown for biscuits and cookies. When Melissa completely specializes in producing the good she has a comparative advantage in, she produces:

Industries at a comparative disadvantage may find it necessary to decrease their workforce.

Producer surplus is the area:

A price ceiling is a legally mandated _____ goods or services cannot be sold.

(Figure: Determining Surplus 4) In the market depicted in the graph, producer surplus equals _____.

Suppose that your car gets 40 miles to the gallon. Assuming D = distance or number of miles your car can drive and that G = the number of gallons of gasoline in your fuel tank, the relationship between the number of miles your car can drive and the amount of gas in your fuel tank is captured by which equation?

Suppose that a customer’s willingness to pay for a product is $1,480, and the seller’s willingness to sell is $1,210. If the negotiated price is $1,479, what is the producer surplus?