Author Question: Refer to Figure 9.7. After the policy was implemented, price became A) 10. B) 30. C) 50. D) ... (Read 68 times)

dejastew · **on:** Jul 1, 2018

Refer to Figure 9.7. After the policy was implemented, price became

A) 10.
B) 30.
C) 50.
D) 70.
E) between 50 and 70, but the price is uncertain because quantity can be any amount between 2000 and 4000.

Question 2

See Scenario 4.1. What quantity Qc will maximize Daniel's utility given the information above?

A) 0
B) 24
C) 40
D) 60
E) none of the above