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Author Question: Methods of rent seeking include which of the following? I. Buying a monopoly II. Creating a monopoly ... (Read 61 times)

ts19998

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on: Jun 29, 2018
Methods of rent seeking include which of the following? I. Buying a monopoly II. Creating a monopoly III. Price discrimination
 
  A) I and II
  B) I and III
  C) II and III
  D) III only

Question 2

The figure above shows the market supply curve for pizzas. a) What is the marginal social cost of the 20th pizza? b) What is the minimum supply price of the 20th pizza? c) If the price is 6 per pizza, what is the producer surplus for the 20th
 
  pizza? d) If the price is 6 per pizza, what is the total producer surplus? e) If the price is 8 per pizza, what is the total producer surplus? f) If the price is 10 per pizza, what is the total producer surplus?


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JaynaD87

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

A

Answer to Question 2

a) The marginal cost of the 20th pizza is 6.
b) The minimum supply price of the 20th pizza is 6.
c) If the price is 6 per pizza, the producer surplus for the 20th pizza is zero.
d) If the price is 6 per pizza, the total producer surplus is 20.
e) If the price is 8 per pizza, the total producer surplus is 80.
f) If the price is 10 per pizza, the total producer surplus is 180.


ts19998

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Reply 2 on: Jun 29, 2018
Excellent

okolip

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

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