You go to the grocery store to buy a gallon of milk, expecting to pay $4.50 for it. once you get there, you discover it is on sale for $2.50. the extra $2 that you saved on the $4.50 you were willing to pay for it represents a. consumer surplus b. productive efficiency c. allocative efficiency d. producer surplus. !

Adisadvantage of corporations is that shareholders have to pay on profits.

Awork system has five stations that have process times of 5, 9, 4, 9, and 8. what is the throughput time of the system? a. 7b. 4c. 18d. 35e. 9

Martha is one producer in the perfectly competitive jelly industry. last year, martha and all of her competitors found themselves earning economic profits. if there is free entry and exit, what do you expect to happen to the number of suppliers in the industry and the price of jelly? the number of suppliers will increase, and the price of jelly will fall. the number of suppliers will decrease, and the price of jelly will increase. the number of suppliers will increase, and the price of jelly will increase. the number of suppliers will decrease, and the price of jelly will fall.