This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose a negatively sloped demand curve and a positively sloped supply curve intersect at a price ... (Read 93 times)

effaey

  • Full Member
  • ***
  • Posts: 153
on: Oct 12, 2022
Suppose a negatively sloped demand curve and a positively sloped supply curve intersect at a price and quantity combination of $100 and 600 units of the good. But suppose that producers actually produce and sell 610 units. What can we correctly say about market efficiency in this case?
◦ The production and consumption of the additional 10 units of the good increases total economic surplus and increases market efficiency.
◦ The value placed on the final 10 units of the good by consumers exceeds the additional costs associated with their production - this market is not efficient.
◦ The value placed on the final 10 units of the good by consumers is less than the additional costs associated with their production - this market is not efficient.
◦ This market is not efficient because quantity demanded for the good exceeds quantity supplied.
◦ This market is efficient because economic surplus is maximized as production and consumption increase simultaneously.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by effaey on Oct 12, 2022

nora9826

  • Full Member
  • ***
  • Posts: 155
Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 50% of students answer this correctly


effaey

  • Member
  • Posts: 153
Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

epscape

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

The titration curve of acetic acid The titration curve of acetic acid
The Light Curve of a Nova The Light Curve of a Nova
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
The Frequency Distribution Curve of a Drug The Frequency Distribution Curve of a Drug
The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur
Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ... Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ...
Video: Bone Healing Animation

For a complete list of videos, visit our video library