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

Author Question: Refer to Figure 4-8. What is the value of consumer surplus after the imposition of the ceiling? ... (Read 76 times)

HudsonKB16

  • Hero Member
  • *****
  • Posts: 535
on: Jun 29, 2018
Refer to Figure 4-8. What is the value of consumer surplus after the imposition of the ceiling?
 
  A) 120,000 B) 230,000 C) 270,000 D) 430,000

Question 2

How does marginal cost change as output increases (a) initially and (b) eventually?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ong527

  • Sr. Member
  • ****
  • Posts: 285
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

At small outputs, marginal cost decreases as output increases because of greater specialization and the division of labor, but as output increases further, marginal cost eventually increases because of the law of diminishing returns.


HudsonKB16

  • Member
  • Posts: 535
Reply 2 on: Jun 29, 2018
Gracias!

Dnite

  • Member
  • Posts: 297
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
Annual Federal Deficit (or Surplus), 1992–2016 Annual Federal Deficit (or Surplus), 1992–2016
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
The Food Label Provides Valuable Consumer Information Manufacturers must adhere to strict labeling The Food Label Provides Valuable Consumer Information Manufacturers must adhere to strict labeling
As shown in the figure, a large open tank contains a layer of oil ( density 450 kg/m3) floating ... As shown in the figure, a large open tank contains a layer of oil ( density 450 kg/m3) floating ...
Frequency distribution of phenotypes from the possible offspring in Figure 5.7. Height of the offspr Frequency distribution of phenotypes from the possible offspring in Figure 5.7. Height of the offspr
Video: Status Epilepticus

For a complete list of videos, visit our video library