If a market produces a level of output that exceeds the competitive equilibrium output, then
a) producer surplus will be higher. b) social welfare will be higher. c) marginal cost will exceed price. d) all of the above.

When consumers discard their gasoline-powered automobiles for electric-powered ones, this partially reflects the of gasoline?

Lusk corporation produces and sells 14,300 units of product x each month. the selling price of product x is $25 per unit, and variable expenses are $19 per unit. a study has been made concerning whether product x should be discontinued. the study shows that $72,000 of the $102,000 in monthly fixed expenses charged to product x would not be avoidable even if the product was discontinued. if product x is discontinued, the annual financial advantage (disadvantage) for the company of eliminating this product should be:

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