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

Author Question: Allocative efficiency means that a. firms have maximized production b. all mutually beneficial ... (Read 100 times)

casperchen82

  • Hero Member
  • *****
  • Posts: 540
on: Jun 30, 2018
Allocative efficiency means that
 a. firms have maximized production
  b. all mutually beneficial trades have taken place
  c. the next unit sold will increase total surplus
  d. producer surplus is maximized
  e. no mutually beneficial trades have occurred

Question 2

Business-class airline tickets cost much more than coach-class tickets because, compared to householders, businesspeople's demand for travel is
 a. equally elastic
  b. unitary elastic
  c. more elastic
  d. less elastic
  e. not a factor in the cost of airline tickets


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

gasdhashg

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

D


casperchen82

  • Member
  • Posts: 540
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

olderstudent

  • Member
  • Posts: 339
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

projections of future oil production projections of future oil production
Oil and Natural Gas Production from More Wells in Smaller Areas Oil and Natural Gas Production from More Wells in Smaller Areas
Cotton Production and Slave Population, 1800–1860 Cotton Production and Slave Population, 1800–1860
Electricity production accounts for 25% of greenhouse gas emissions Electricity production accounts for 25% of greenhouse gas emissions
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
ATP Production in Cardiac Muscle ATP Production in Cardiac Muscle
Video: Body plan of euglena Animation

For a complete list of videos, visit our video library