This topic contains a solution. Click here to go to the answer

Author Question: Rent seeking ________. A) increases consumer surplus B) occurs only when the firm practices ... (Read 47 times)

Hungry!

  • Hero Member
  • *****
  • Posts: 1,071
Rent seeking ________.
 
  A) increases consumer surplus
  B) occurs only when the firm practices perfect price discrimination
  C) increases deadweight loss
  D) results in a larger output than a competitive industry would produce

Question 2

When the consumer is at his or her best affordable consumption point, it is the case that the marginal rate of substitution is
 
  A) greater than the price ratio.
  B) equal to the price ratio.
  C) less than the price ratio.
  D) maximized.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

popopong

  • Sr. Member
  • ****
  • Posts: 307
Answer to Question 1

C

Answer to Question 2

B




Hungry!

  • Member
  • Posts: 1,071
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


mammy1697

  • Member
  • Posts: 341
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

For a complete list of videos, visit our video library