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

Author Question: Consider a good that you do not like at all, perhaps turnips. Given the market price for turnips, ... (Read 109 times)

Deast7027

  • Hero Member
  • *****
  • Posts: 538
on: Jun 29, 2018
Consider a good that you do not like at all, perhaps turnips. Given the market price for turnips, what would be your consumer surplus?
 
  What will be an ideal response?

Question 2

Suppose that domestic investment in Japan is 20.2 of GDP, and Japanese national savings is 24 of GDP. What is Japan's foreign investment as a percentage of GDP?
 
  A) 1.19 B) 3.8 C) 27.8 D) 44.2


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cpetit11

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jun 29, 2018
Answer to Question 1

Your consumer surplus will be zero. If you do not like turnips your willingness to pay will be zero. Therefore your willingness to pay will always be less than price and so you will never buy turnips. If you do not buy turnips your consumer surplus must be zero.

Answer to Question 2

B


Deast7027

  • Member
  • Posts: 538
Reply 2 on: Jun 29, 2018
:D TYSM

shailee

  • Member
  • Posts: 392
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
Peanut butter is good source of protein Peanut butter is good source of protein
Nuts are also a good source of dietary fibre Nuts are also a good source of dietary fibre
Too Much Alcohol Costs You Good Nutrition Too Much Alcohol Costs You Good Nutrition
Prevalence of good health in Canadians aged 65 years and older Prevalence of good health in Canadians aged 65 years and older
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Video: Digestive chemicals - types & enzymes

For a complete list of videos, visit our video library