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Author Question: If the price of a ticket to Sea World exceeds the marginal cost of the ticket by 13, a producer ... (Read 158 times)

2125004343

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on: Jun 29, 2018
If the price of a ticket to Sea World exceeds the marginal cost of the ticket by 13, a producer surplus exists for Sea World. Is this statement true or false?
 
  What will be an ideal response?

Question 2

If the above figure illustrated a perfectly competitive industry, the equilibrium market output would be equal to
 
  A) 7.
  B) 11.
  C) 13.
  D) 22.


owenfalvey

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

The statement is true. Anytime the price exceeds the marginal cost, there is a producer surplus. In this case, the producer surplus is 13.

Answer to Question 2

C


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2125004343

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Reply #2 on: Jun 29, 2018
Correct answers!


owenfalvey

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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