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

Author Question: Refer to the table above. If only the two highest-value buyers and the two least-cost sellers engage ... (Read 112 times)

jlmhmf

  • Hero Member
  • *****
  • Posts: 552
on: Jun 29, 2018
Refer to the table above. If only the two highest-value buyers and the two least-cost sellers engage in trade, what is the social surplus?
 
  A) 6
  B) 10
  C) 12
  D) 20

Question 2

Refer to the figure above. What is the change in total revenue due to a price increase from 3 to 5?
 
  A) The total revenue increases by 100.
  B) The total revenue decreases by 100.
  C) The total revenue increases by 200.
  D) The total revenue decreases by 200.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

meganmoser117

  • Sr. Member
  • ****
  • Posts: 303
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


jlmhmf

  • Member
  • Posts: 552
Reply 2 on: Jun 29, 2018
Excellent

Alyson.hiatt@yahoo.com

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

The Periodic Table (Part 2) The Periodic Table (Part 2)
Periodic Table of the Elements Periodic Table of the Elements
How to determine if a table of values represents a function How to determine if a table of values represents a function
How to create a table of values displaying commission and earnings (Question 1) How to create a table of values displaying commission and earnings (Question 1)
table table
The periodic table and its creator, Dmitry Mendeleyev. The periodic table and its creator, Dmitry Mendeleyev.
Video: Non-specific disease resistance mechanisms & Skin's defense barriers

For a complete list of videos, visit our video library