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Author Question: Refer to Scenario 14.4. Suppose that the price of the product rises to 5, the price of labor A) ... (Read 33 times)

CBme

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on: Jul 1, 2018
Refer to Scenario 14.4. Suppose that the price of the product rises to 5, the price of labor
 
  A) will decrease.
  B) will increase.
  C) will not change.
  D) will change in an indeterminate fashion.

Question 2

Refer to Figure 9.8. If free trade in sugar is replaced by a 50 tariff on sugar, the effect on domestic producer surplus will be to
 
  A) lower it by 50.
  B) lower it by 12,500.
  C) leave it unchanged.
  D) raise it by 50.
  E) raise it by 12,500.


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sierrahalpin

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

E


CBme

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Reply #2 on: Jul 1, 2018
Correct answers!


sierrahalpin

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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