« previous next »

Author Question: The area above the market supply curve and below the market price A) is equal to the total cost ... (Read 143 times)

Kthamas

  • Hero Member
  • *****
  • Posts: 546
on: Jun 29, 2018
The area above the market supply curve and below the market price
 
  A) is equal to the total cost of production.
  B) is equal to the total amount of producer surplus in a market.
  C) is equal to the total amount of economic surplus in a market.
  D) is equal to the marginal cost of the last unit produced.

Question 2

What is game theory?
 
  What will be an ideal response?
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


snackralk

  • Sr. Member
  • ****
  • Posts: 363
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Game theory analyzes oligopolistic behavior as a complex series of strategic moves and reactive countermoves among rival firms. In game theory, firms are assumed to anticipate rival reactions.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

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?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

The role of the liver in fuel supply to the blood. The role of the liver in fuel supply to the blood.
The Location of Visual Area V5 The Location of Visual Area V5
Cost Savings with an EHR System Cost Savings with an EHR System
Torque is a twisting force equal to the distance from the pivot point times the force applied ... Torque is a twisting force equal to the distance from the pivot point times the force applied ...
Immunofixation electrophoresis. (a) IgG kappa myeloma, (b) Controls showing total serum protein ... Immunofixation electrophoresis. (a) IgG kappa myeloma, (b) Controls showing total serum protein ...
Income per Capita versus Total Fertility Rate Income per Capita versus Total Fertility Rate
Video: Type of Transport - Active and Passive Processes

For a complete list of videos, visit our video library