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

Author Question: What is the relationship between the marginal social benefit curve and the market demand curve. ... (Read 91 times)

dalyningkenk

  • Hero Member
  • *****
  • Posts: 598
on: Jun 29, 2018
What is the relationship between the marginal social benefit curve and the market demand curve. Explain.
 
  What will be an ideal response?

Question 2

Kirk consumes normal goods. If Kirk's income decreases and the prices of all goods remain unchanged, in his new consumer equilibrium, his marginal utility from each good will ________ and his total utility will ________.
 
  A) increase; increase
  B) increase; decrease
  C) decrease; increase
  D) decrease; decrease


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

joshraies

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jun 29, 2018
Answer to Question 1

The market demand curve is also the marginal social benefit curve. The market demand curve shows the maximum price that consumers are willing to pay to buy another unit of the good. Marginal social benefit is the value of one more unit of a good, which equals the maximum price that people are willing to pay to get it. So the market demand curve is the marginal social benefit curve.

Answer to Question 2

B


dalyningkenk

  • Member
  • Posts: 598
Reply 2 on: Jun 29, 2018
:D TYSM

miss_1456@hotmail.com

  • Member
  • Posts: 289
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Dose–response relationship Dose–response relationship
For the 2-year-old, encounters with peers provide valuable practice in communication and social ... For the 2-year-old, encounters with peers provide valuable practice in communication and social ...
In the box on upward social mobility on page 82, we discussed how Latinos face a similar situation. ... In the box on upward social mobility on page 82, we discussed how Latinos face a similar situation. ...
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur
The lifetime risk for schizophrenia varies with the degree of relationship to an affected individual The lifetime risk for schizophrenia varies with the degree of relationship to an affected individual
Video: Neurosynapse Animation

For a complete list of videos, visit our video library