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Author Question: The policy shown in Figure 9.7 is a A) price floor of 50. B) price support of 50. C) price ... (Read 86 times)

nramada

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on: Jul 1, 2018
The policy shown in Figure 9.7 is a
 
  A) price floor of 50.
  B) price support of 50.
  C) price ceiling of 30.
  D) quota of 2000.
  E) quota of 4000.

Question 2

Assume there are only two individuals in an economy, Lisa and Bart. The utility possibilities frontier for these individuals is given as:
 
  120 = UL + UB
  where UL is Lisa's utility and UB is Bart's utility. Lisa's current level of utility is 20, Bart's level of utility is 90. This combination is:
  A) inefficient.
  B) economically efficient.
  C) impossible, because it is outside of the welfare frontier.
  D) none of the above


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HandsomeMarc

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

D

Answer to Question 2

A


nramada

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

Jsherida

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Reply 3 on: Yesterday
Excellent

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