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

Author Question: Allocative efficiency means that a. firms have maximized production b. all mutually beneficial ... (Read 95 times)

casperchen82

  • Hero Member
  • *****
  • Posts: 540
on: Jun 30, 2018
Allocative efficiency means that
 a. firms have maximized production
  b. all mutually beneficial trades have taken place
  c. the next unit sold will increase total surplus
  d. producer surplus is maximized
  e. no mutually beneficial trades have occurred

Question 2

Business-class airline tickets cost much more than coach-class tickets because, compared to householders, businesspeople's demand for travel is
 a. equally elastic
  b. unitary elastic
  c. more elastic
  d. less elastic
  e. not a factor in the cost of airline tickets


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

gasdhashg

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

D


casperchen82

  • Member
  • Posts: 540
Reply 2 on: Jun 30, 2018
:D TYSM

tkempin

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Predicted effects of piscivores on planktivore, herbivore, and phytoplankton biomass and production Predicted effects of piscivores on planktivore, herbivore, and phytoplankton biomass and production
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
3D Plant Layout - Side View for Dual-Stage Pressure Production of Nitric Acid 3D Plant Layout - Side View for Dual-Stage Pressure Production of Nitric Acid
Mechanism of action of anti-parkinson drugs. (a) Levodopa therapy increases dopamine production; (b) ... Mechanism of action of anti-parkinson drugs. (a) Levodopa therapy increases dopamine production; (b) ...
Complete the following production chart and plot the points. Complete the following production chart and plot the points.
Production of prototrophs as a result of genetic recombination Production of prototrophs as a result of genetic recombination
Video: Krebs cycle : Formation of acetyl coenzyme A and Electron transport chain

For a complete list of videos, visit our video library