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Author Question: Homer, Bart, and Lisa are the only consumers in the market. Using the information in the above ... (Read 269 times)

rl

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on: Jun 29, 2018
Homer, Bart, and Lisa are the only consumers in the market. Using the information in the above table, what is the market demand for chocolate chip cookies at 4.00 per pound?
 
  A) 21 pounds
  B) 17 pounds
  C) 11 pounds
  D) 4 pounds

Question 2

The market demand curve is constructed by adding the
 
  A) quantities demanded by each individual at each price.
  B) prices that each individual is willing to pay at each quantity.
  C) Neither answer A nor answer B is correct.
  D) Both answer A and answer B are correct.

Question 3

A country opens up to trade and becomes an importer of a sugar. In the sugar market, consumer surplus will ________, producer surplus will ________, and total surplus will ________.
 
  A) increase; decrease; increase
  B) increase; decrease; decrease
  C) decrease; decrease; decrease
  D) decrease; increase; increase


mohan

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

C

Answer to Question 2

Boom Correct answer

Answer to Question 3

A


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rl

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Reply #2 on: Jun 29, 2018
Correct answers!


mohan

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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