« previous next »

Author Question: The figure illustrates the market for bagels. Initially the market is in equilibrium, Then the ... (Read 154 times)

gbarreiro

  • Hero Member
  • *****
  • Posts: 566
on: Jun 29, 2018
The figure illustrates the market for bagels. Initially the market is in equilibrium, Then the number of bagels produced is cut from 20 to 10 an hour and the price rises to 2.00 per bagel. Consumer surplus decreases by ________.
 
  A) 5.00 an hour
  B) 2.50 an hour
  C) 7.50 an hour
  D) 0.50 a bagel

Question 2

When demand is ________, a decrease in price ________ total revenue.
 
  A) elastic; decreases
  B) inelastic; decreases
  C) unit elastic; increases
  D) elastic; does not change


chem1s3

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

A comparison of gradualism and punctuated equilibrium. A comparison of gradualism and punctuated equilibrium.
Hydrostatic Equilibrium Hydrostatic Equilibrium
A photograph of Commodore Matthew Perry in 1855 juxtaposed with a Japanese portrait of him. When Per A photograph of Commodore Matthew Perry in 1855 juxtaposed with a Japanese portrait of him. When Per
Figure-8s on the toes mobilize joints of the foot. Figure-8s on the toes mobilize joints of the foot.
Diagram illustrates how the dimensions of masculinity and femininity Diagram illustrates how the dimensions of masculinity and femininity
The Hardy–Weinberg equilibrium for two autosomal alleles. The Hardy–Weinberg equilibrium for two autosomal alleles.
Video: ribosome

For a complete list of videos, visit our video library