« previous next »

Author Question: Which of the following is held constant along an indifference curve? A) the prices of the goods ... (Read 95 times)

clmills979

  • Hero Member
  • *****
  • Posts: 551
on: Jun 29, 2018
Which of the following is held constant along an indifference curve?
 
  A) the prices of the goods in question
  B) the total utility derived from consuming any bundle of goods on the indifference curve
  C) the marginal rate of substitution between the two goods in question
  D) the marginal utility derived from consuming any bundle of goods on the indifference curve

Question 2

Suppose that a perfectly competitive industry becomes a monopoly. What effect will this have on consumer surplus, producer surplus, and deadweight loss?
 
  What will be an ideal response?
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


mjenn52

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

If a perfectly competitive industry is monopolized, consumer surplus will decrease, producer surplus will increase, and there will be a deadweight loss.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

clmills979

  • Hero Member
  • *****
  • Posts: 551
Reply #2 on: Jun 29, 2018
Thank you :)


mjenn52

  • Sr. Member
  • ****
  • Posts: 351
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Oxygen dissociation curve Oxygen dissociation curve
An agglutination reaction. Antigen-coated latex beads are held together by antibody. In a direct ... An agglutination reaction. Antigen-coated latex beads are held together by antibody. In a direct ...
Classic Supply - Demand Curve Classic Supply - Demand Curve
Ecosystem goods and services and monetary values Ecosystem goods and services and monetary values
Hockey stick” curve Hockey stick” curve
The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur The slope of the curve y = ax^3 - bx^2 + cx - 3 at x = 2 is 5. If the point of inflection of the cur
Video: Cardiac Cycle (Part 4 of 4)

For a complete list of videos, visit our video library