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Author Question: In the above figure, the individual's consumer surplus will be highest if A) the price of ice ... (Read 38 times)

Mr3Hunna

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on: Jun 29, 2018
In the above figure, the individual's consumer surplus will be highest if
 
  A) the price of ice cream is 5 per gallon.
  B) the price of ice cream is 3 per gallon.
  C) the price of ice cream is 2 per gallon.
  D) ice cream is free.

Question 2

With rent controls set below the equilibrium rent, what mechanism might arise that moves the market closer to the efficient equilibrium?
 
  A) decreased search costs
  B) black market activity
  C) increased advertising by landlords
  D) more favorable leases offered to tenants


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jomama

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


Mr3Hunna

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

nyrave

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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