This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The figure above shows the market for cotton in Georgestan. The government regulates the market with ... (Read 140 times)

saraeharris

  • Hero Member
  • *****
  • Posts: 546
on: Jun 29, 2018
The figure above shows the market for cotton in Georgestan. The government regulates the market with a production quota set at 8 million pounds per year.
 
  With the quota in place, the amount of cotton produced in Georgestan is ________ because the marginal social cost of a pound of cotton is ________ the marginal social benefit of a pound of cotton. A) inefficient; less than
  B) inefficient; greater than
  C) efficient; less than
  D) efficient; equal to

Question 2

The figure above shows the demand and cost curves for a single-price monopoly. What price will the firm charge?
 
  A) 50 per unit
  B) 30 per unit
  C) 20 per unit
  D) 10 per unit


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

chevyboi1976

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


saraeharris

  • Hero Member
  • *****
  • Posts: 546
Reply #2 on: Jun 29, 2018
Correct answers!


chevyboi1976

  • Sr. Member
  • ****
  • Posts: 344
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

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?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

This image shows an artists depiction of a 10-kilometer (six-mile) diameter astero This image shows an artists depiction of a 10-kilometer (six-mile) diameter astero
The first mill operations performed only the task of spinning wool, cotton, and The first mill operations performed only the task of spinning wool, cotton, and
A cartoon of “King Andrew the First” shows Jackson standing atop the U.S. Constitution—a scepter in A cartoon of “King Andrew the First” shows Jackson standing atop the U.S. Constitution—a scepter in
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
Increased neurogenesis in the dentate gyrus following damage. The left panel shows (1) an ... Increased neurogenesis in the dentate gyrus following damage. The left panel shows (1) an ...
Government By the People, 2016 Presidential Election, 26th Edition Government By the People, 2016 Presidential Election, 26th Edition
Video: Fractures Animation

For a complete list of videos, visit our video library