« previous next »

Author Question: When the market for gasoline in Motorland is in equilibrium, the deadweight loss is A) 37,500 per ... (Read 66 times)

PhilipSeeMore

  • Hero Member
  • *****
  • Posts: 561
on: Jun 29, 2018
When the market for gasoline in Motorland is in equilibrium, the deadweight loss is
 
  A) 37,500 per month.
  B) 150,000 per month.
  C) 75,000 per month.
  D) zero.

Question 2

The figure above shows the market for polio vaccination in Africa.
 
  a) If the market is competitive and left unregulated, how many doses of vaccine will be administered?
  b) If the Melinda and Bill Gates Foundation underwrites the cost of the vaccine by paying for a large fraction of the preparation and delivery cost, what will happen to the number of doses administered? Why?
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Ahernandez18

  • Sr. Member
  • ****
  • Posts: 361
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

a) If the market is competitive and left unregulated, 4 million doses will be administered.
b) If the Foundation underwrites the cost of the vaccine, the marginal cost of the vaccine will drop. The result will be similar to a government subsidy: part of the price of the vaccine will be paid for by the Foundation.. The market's efficiency will be increased.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

PhilipSeeMore

  • Hero Member
  • *****
  • Posts: 561
Reply #2 on: Jun 29, 2018
Correct answers!


Ahernandez18

  • Sr. Member
  • ****
  • Posts: 361
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Rates of water loss by two turtles and a tortoise indicate an inverse relationship between the dryne Rates of water loss by two turtles and a tortoise indicate an inverse relationship between the dryne
Myths and Facts About Weight Loss Myths and Facts About Weight Loss
Othmer’s Equilibrium Still Schematic Diagram Othmer’s Equilibrium Still Schematic Diagram
A flex-fuel vehicle often has a yellow gas cap, which is labeled “E85/gasoline”. A flex-fuel vehicle often has a yellow gas cap, which is labeled “E85/gasoline”.
Loud Music and Hearing Loss Loud Music and Hearing Loss
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Video: How proteins function? How do proteins work?

For a complete list of videos, visit our video library