« previous next »

Author Question: What does the Law of Supply state? What is the key feature of a typical supply curve? What will ... (Read 28 times)

FButt

  • Hero Member
  • *****
  • Posts: 519
on: Jun 29, 2018
What does the Law of Supply state? What is the key feature of a typical supply curve?
 
  What will be an ideal response?

Question 2

Refer to Figure 4-6. What is the value of the deadweight loss after the imposition of the price floor?
 
  A) 600 B) 1,800 C) 2,700 D) 3,300


mammy1697

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

The law of supply states that in most cases, the quantity supplied of a good rises when the price of the good rises. A typical supply curve is upward sloping which shows the positive relationship between price and quantity supplied.

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

FButt

  • Hero Member
  • *****
  • Posts: 519
Reply #2 on: Jun 29, 2018
Thank you


mammy1697

  • Sr. Member
  • ****
  • Posts: 341
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Diagram of a typical prokaryotic cell Diagram of a typical prokaryotic cell
The sensing wire in a typical hot wire mass air flow sensor. The sensing wire in a typical hot wire mass air flow sensor.
A typical hydrogen fuel cell A typical hydrogen fuel cell
An Environmental Kuznets Curve An Environmental Kuznets Curve
Blood Supply of the Liver Blood Supply of the Liver
Sketch the graph of each function using transformations. State the domain and range. Sketch the graph of each function using transformations. State the domain and range.
Video: Structures that affect circulation - kidneys and blood volume and skeletal muscle pumping

For a complete list of videos, visit our video library