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Author Question: Economic surplus A) is equal to the difference between consumer surplus and producer surplus. ... (Read 305 times)

cnetterville

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on: Jun 29, 2018
Economic surplus
 
  A) is equal to the difference between consumer surplus and producer surplus.
  B) is equal to the sum of consumer surplus and producer surplus.
  C) does not exist when a competitive market is in equilibrium.
  D) is the difference between quantity demanded and quantity supplied when the market price for a product is greater than the equilibrium price.

Question 2

If a country is producing efficiently and is on the production possibilities frontier, the only way to produce more of one good is with an advance in technology.
 
  Indicate whether the statement is true or false


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fatboyy09

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

FALSE


cnetterville

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Reply #2 on: Jun 29, 2018
Thank you :)


fatboyy09

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Reply #3 on: Jun 29, 2018
Happy to help you


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