« previous next »

Author Question: If the price of a ticket to Sea World exceeds the marginal cost of the ticket by 13, a producer ... (Read 56 times)

2125004343

  • Hero Member
  • *****
  • Posts: 566
on: Jun 29, 2018
If the price of a ticket to Sea World exceeds the marginal cost of the ticket by 13, a producer surplus exists for Sea World. Is this statement true or false?
 
  What will be an ideal response?

Question 2

If the above figure illustrated a perfectly competitive industry, the equilibrium market output would be equal to
 
  A) 7.
  B) 11.
  C) 13.
  D) 22.


owenfalvey

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 29, 2018
Answer to Question 1

The statement is true. Anytime the price exceeds the marginal cost, there is a producer surplus. In this case, the producer surplus is 13.

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

2125004343

  • Hero Member
  • *****
  • Posts: 566
Reply #2 on: Jun 29, 2018
Correct answers!


owenfalvey

  • Sr. Member
  • ****
  • Posts: 337
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

The common squirrel monkey (Saimiri sciureus) is a small New World primate from the Cebidae (squirre The common squirrel monkey (Saimiri sciureus) is a small New World primate from the Cebidae (squirre
teach their children to care for the earth in hopes of passing on a better world to future generatio teach their children to care for the earth in hopes of passing on a better world to future generatio
pie chart of the World's Religions pie chart of the World's Religions
The Increasing Cost of Health Care, 1960–2010 The Increasing Cost of Health Care, 1960–2010
In 2007 acclaimed filmmaker Ken Burns released a documentary on World War II that triggered an angry ... In 2007 acclaimed filmmaker Ken Burns released a documentary on World War II that triggered an angry ...
Soil Erosion and Degradation in the world Soil Erosion and Degradation in the world
Video: Stimulus (introduction)

For a complete list of videos, visit our video library