« previous next »

Author Question: The difference between the minimum price the producer is willing to accept and the price the ... (Read 46 times)

olgavictoria

  • Hero Member
  • *****
  • Posts: 528
on: Jul 1, 2018
The difference between the minimum price the producer is willing to accept and the price the producer actually receives for a product is referred to as:
 a. market surplus
  b. market shortage
  c. buyer surplus
  d. seller surplus.

Question 2

For a resource to be able to generate temporary competitive advantage over rivals, it must be
 a. Valuable
 b. Rare
 c. Valuable and rare
 d. Not valuable but rare


micaelaswann

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Positron emission tomography (PET) image showing the difference in the metabolic activity of the bra Positron emission tomography (PET) image showing the difference in the metabolic activity of the bra
Difference between chromosomes, chromatids, and chromatins Difference between chromosomes, chromatids, and chromatins
Resting Membrane Potential: Voltage Difference Resting Membrane Potential: Voltage Difference
Resting Membrane Potential: Voltage Difference Resting Membrane Potential: Voltage Difference
Difference between the house and the senate Difference between the house and the senate
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Phases of mitosis

For a complete list of videos, visit our video library