« previous next »

Author Question: Which of the following is held constant along an indifference curve? A) the prices of the goods ... (Read 91 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?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

At breakfast, a middle-class husband sits absorbed in the newspaper and the public affairs of the da At breakfast, a middle-class husband sits absorbed in the newspaper and the public affairs of the da
Deliberative nursing is a constant process of validating perceptions, thoughts, and feelings. Deliberative nursing is a constant process of validating perceptions, thoughts, and feelings.
Concentration affects where the precipitin line forms. When 1 reactant is held at a constant ... Concentration affects where the precipitin line forms. When 1 reactant is held at a constant ...
The Kuznets Curve in England and Wales, 1823–1915 The Kuznets Curve in England and Wales, 1823–1915
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
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Video: Properties of water -structure of water and polarity (Ionized and polar compounds)

For a complete list of videos, visit our video library