This topic contains a solution. Click here to go to the answer

Author Question: Refer to Figure 4-8. What is the value of consumer surplus after the imposition of the ceiling? ... (Read 117 times)

HudsonKB16

  • Hero Member
  • *****
  • Posts: 535
Refer to Figure 4-8. What is the value of consumer surplus after the imposition of the ceiling?
 
  A) 120,000 B) 230,000 C) 270,000 D) 430,000

Question 2

How does marginal cost change as output increases (a) initially and (b) eventually?
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ong527

  • Sr. Member
  • ****
  • Posts: 285
Answer to Question 1

B

Answer to Question 2

At small outputs, marginal cost decreases as output increases because of greater specialization and the division of labor, but as output increases further, marginal cost eventually increases because of the law of diminishing returns.




HudsonKB16

  • Member
  • Posts: 535
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


kusterl

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Excellent

 

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

For a complete list of videos, visit our video library