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 57 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
Thanks for the timely response, appreciate it

sultana.d

  • Member
  • Posts: 320
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Primary aging means changes in hair color and skin texture for almost everyone. Primary aging means changes in hair color and skin texture for almost everyone.
Conventional oil reserves have passed peak production Conventional oil reserves have passed peak production
Electricity production accounts for 25% of greenhouse gas emissions Electricity production accounts for 25% of greenhouse gas emissions
Eating Breakfast Means More Energy and Fewer Calories throughout the Day Eating Breakfast Means More Energy and Fewer Calories throughout the Day
Ecosystem Energy Flow and Efficiency Ecosystem Energy Flow and Efficiency
Complete the following production chart and plot the points. Complete the following production chart and plot the points.
Video: DNA Sequences - Dideoxy Sequencing

For a complete list of videos, visit our video library