This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The figure above shows the market for cotton in Georgestan. The government regulates the market with ... (Read 83 times)

saraeharris

  • Hero Member
  • *****
  • Posts: 546
on: Jun 29, 2018
The figure above shows the market for cotton in Georgestan. The government regulates the market with a production quota set at 8 million pounds per year.
 
  With the quota in place, the amount of cotton produced in Georgestan is ________ because the marginal social cost of a pound of cotton is ________ the marginal social benefit of a pound of cotton. A) inefficient; less than
  B) inefficient; greater than
  C) efficient; less than
  D) efficient; equal to

Question 2

The figure above shows the demand and cost curves for a single-price monopoly. What price will the firm charge?
 
  A) 50 per unit
  B) 30 per unit
  C) 20 per unit
  D) 10 per unit


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

chevyboi1976

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


saraeharris

  • Hero Member
  • *****
  • Posts: 546
Reply #2 on: Jun 29, 2018
Correct answers!


chevyboi1976

  • Sr. Member
  • ****
  • Posts: 344
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Cotton-top tamarin eating a grasshopper Cotton-top tamarin eating a grasshopper
Mechanical ventilation. The photograph shows a patient receiving breathing assistance by the use of Mechanical ventilation. The photograph shows a patient receiving breathing assistance by the use of
In 2009, historian Woody Holton described how Abigail Adams shrewdly invested in the Continental Con In 2009, historian Woody Holton described how Abigail Adams shrewdly invested in the Continental Con
The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ... The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ...
How much voltage does the resistor drop in Figure 10-2? How much voltage does the resistor drop in Figure 10-2?
Cut the figure into two identical parts Cut the figure into two identical parts
Video: Double Stranded DNA Molecule Animation

For a complete list of videos, visit our video library