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Author Question: Refer to Table 4-5. The table above lists the highest prices five consumers are willing to pay for a ... (Read 89 times)

Diane

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on: Jun 29, 2018
Refer to Table 4-5. The table above lists the highest prices five consumers are willing to pay for a concert ticket. If the price of one ticket falls from 50 to 20
 
  A) only three tickets will be sold. B) everyone will buy a ticket.
  C) consumer surplus decreases from 48 to 24. D) consumer surplus increases from 0 to 62.

Question 2

The principle of ________ is that the economic cost of using a factor of production is the alternative use of that factor that is given up.
 
  A) marginal cost B) normative economics
  C) entrepreneurship D) opportunity cost


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hramirez205

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

D


Diane

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Reply 2 on: Jun 29, 2018
Excellent

ryhom

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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