Author Question: The market supply function is P = 10 + Q and the market demand function is P = 70 - 2Q. What is the ... (Read 36 times)

Engineer · **on:** Jul 1, 2018

The market supply function is P = 10 + Q and the market demand function is P = 70 - 2Q. What is the change in consumer surplus associated with a minimum floor price of 40?

A) -25
B) -150
C) -175
D) -200

Question 2

Bubba Burgers has discovered there are economies of scope available to the restaurant. Which is most likely to be a response to this discovery?

A) Bubba adds more varied inputs to burger production.
B) Bubba expands burger production, focusing on that one good.
C) Bubba contracts burger production.
D) Bubba adds grilled chicken sandwiches to the menu.
E) Bubba cuts back on the diversity of the menu.