Author Question: A lighthouse that serves a dangerous coastal area is built. The lighthouse cost 2 million to build ... (Read 116 times)

BrownTown3 · **on:** Jun 29, 2018

A lighthouse that serves a dangerous coastal area is built. The lighthouse cost 2 million to build and serves 200 ships a month.

If the shipping in the area increases so that 400 ships pass by a month, the increase in additional costs of providing the light to these new ships is A) 2 million.
B) 10,000.
C) 5,000.
D) 0.

Question 2

Refer to the above figure. If a price ceiling of 3 was set

A) the quantity sold would be 80 units.
B) there would be a surplus of 40 units.
C) there would be a shortage of 40 units.
D) there would be a shortage of 20 units.