« previous next »

Author Question: A competitive equilibrium is Pareto efficient because at the competitive equilibrium, A) prices ... (Read 106 times)

FButt

  • Hero Member
  • *****
  • Posts: 519
on: Jul 1, 2018
A competitive equilibrium is Pareto efficient because at the competitive equilibrium,
 
  A) prices have been allowed to adjust.
  B) there are no further gains from trade.
  C) the final outcome is different from the original inefficient endowment.
  D) all members of society can be made better off.

Question 2

Which of the following will cause the average fixed cost curve of making cigarettes to shift?
 
  A) a 5 million penalty charged to each cigarette maker
  B) a 1 per pack tax on cigarettes
  C) a 3 per hour wage increase
  D) an increase in the demand for cigarettes
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


Zebsrer

  • Sr. Member
  • ****
  • Posts: 284
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Othmer’s Equilibrium Still Schematic Diagram Othmer’s Equilibrium Still Schematic Diagram
(A) A brisk half-moon stroke is an efficient technique to use with the body brush or exfoliation ... (A) A brisk half-moon stroke is an efficient technique to use with the body brush or exfoliation ...
Oil supply and prices affect the economies of nations Oil supply and prices affect the economies of nations
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Blueberry bees (Osmia ribifloris) are efficient pollinators of a variety of plants, including this b Blueberry bees (Osmia ribifloris) are efficient pollinators of a variety of plants, including this b
Video: Ear Animation

For a complete list of videos, visit our video library