« previous next »

Author Question: Refer to Figure 7-2. At the efficient equilibrium A) economic surplus is zero. B) economic ... (Read 90 times)

penza

  • Hero Member
  • *****
  • Posts: 1,022
on: Jun 29, 2018
Refer to Figure 7-2. At the efficient equilibrium
 
  A) economic surplus is zero. B) economic surplus is negative.
  C) economic surplus is minimized. D) economic surplus is maximized.

Question 2

What is the difference between economic efficiency and equity?
 
  What will be an ideal response?


yotaSR5

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

Economic efficiency is concerned with maximizing the value of output that can be generated by a given resource base while equity deals with the distribution of society's total output among the sectors and individuals of society.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

penza

  • Hero Member
  • *****
  • Posts: 1,022
Reply #2 on: Jun 29, 2018
Thank you :)


yotaSR5

  • Sr. Member
  • ****
  • Posts: 331
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

With tough economic times, a lot of people have lost their jobs—and their homes. If this happens, ... With tough economic times, a lot of people have lost their jobs—and their homes. If this happens, ...
Mobilize knuckles with figure-8s. Turn the hand so palm faces the table. Grasp the proximal phalange ... Mobilize knuckles with figure-8s. Turn the hand so palm faces the table. Grasp the proximal phalange ...
Mobilize each metatarsal–phalangeal joint with figure-8s. Hold the tarsal just below the ... Mobilize each metatarsal–phalangeal joint with figure-8s. Hold the tarsal just below the ...
economic question economic question
economic question economic question
economic question economic question
Video: Spinal Cord Injury Animation

For a complete list of videos, visit our video library