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Author Question: In the above figure, if 2 million computers are produced per year then the ________ should be ... (Read 123 times)

saliriagwu

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on: Jun 29, 2018
In the above figure, if 2 million computers are produced per year then the ________ should be produced to achieve the allocatively efficient use of resources.
 
  A) marginal cost of a computer exceeds the marginal benefit of a computer, so more computers
  B) marginal cost of a computer exceeds the marginal benefit of a computer, so fewer computers
  C) marginal benefit of a computer exceeds the marginal cost of a computer, so more computers
  D) marginal benefit of a computer exceeds the marginal cost of a computer, so fewer computers

Question 2

The above figure shows a linear (straight-line) demand curve. Starting at point A and then moving to point B and then point C, the price elasticity of demand
 
  A) increases.
  B) decreases.
  C) increases and then decreases.
  D) decreases and then increases.


Anton

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

C

Answer to Question 2

B


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saliriagwu

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


Anton

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


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