« previous next »

Author Question: If the price of a ticket to Sea World exceeds the marginal cost of the ticket by 13, a producer ... (Read 100 times)

2125004343

  • Hero Member
  • *****
  • Posts: 566
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

  • Sr. Member
  • ****
  • Posts: 337
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


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

2125004343

  • Hero Member
  • *****
  • Posts: 566
Reply #2 on: Jun 29, 2018
Correct answers!


owenfalvey

  • Sr. Member
  • ****
  • Posts: 337
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Smallest chameleon in the World Smallest chameleon in the World
World Ecosystem World Ecosystem
Luna Park at Coney Island was a vast living theater in which strollers were both spectators and acto Luna Park at Coney Island was a vast living theater in which strollers were both spectators and acto
The “Big Four” world leaders meet at the Hotel Crillon in Paris, 1919. From left to right (front row The “Big Four” world leaders meet at the Hotel Crillon in Paris, 1919. From left to right (front row
A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ... A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ...
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: Structures that affect circulation - heart and systolic/diastolic BP

For a complete list of videos, visit our video library