Author Question: In the above figure, if 2 million computers are produced per year then the ________ should be ... (Read 71 times)

saliriagwu

  • Hero Member
  • *****
  • Posts: 537
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

  • Sr. Member
  • ****
  • Posts: 302
Answer to Question 1

C

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

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?

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?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

For a complete list of videos, visit our video library