« previous next »

Author Question: A surplus occurs when the price is A) less than the equilibrium price. B) equal to the ... (Read 70 times)

sdfghj

  • Hero Member
  • *****
  • Posts: 552
on: Jun 29, 2018
A surplus occurs when the price is
 
  A) less than the equilibrium price.
  B) equal to the equilibrium price.
  C) greater than the equilibrium price.
  D) None of the above because the existence of a surplus is independent of the price of the good.

Question 2

Given the budget line in the above figure, which of the following combinations of pizza and milk are affordable?
 
  A) 0 pizzas, 12 gallons of milk
  B) 2 pizzas, 2 gallons of milk
  C) 4 pizzas, 4 gallons of milk
  D) All of the above combinations are affordable.


vkodali

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Telangiectasias usually occurs in women and on the face Telangiectasias usually occurs in women and on the face
Rule of Nines. A method for determining percentage of body burned. Each different colored section re Rule of Nines. A method for determining percentage of body burned. Each different colored section re
Kinesthesis and Equilibrium with skating Kinesthesis and Equilibrium with skating
The xy plane is painted with a uniform surface charge density which is equal to 40 nC/m2 . ... The xy plane is painted with a uniform surface charge density which is equal to 40 nC/m2 . ...
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
The Hardy–Weinberg Equilibrium The Hardy–Weinberg Equilibrium
Video: Types of Burns

For a complete list of videos, visit our video library