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 150 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?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Norway lobsters on sale at a Spanish market Norway lobsters on sale at a Spanish market
Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe
Cotton and Slaves in the South, 1860 Cotton and Slaves in the South, 1860
Drawing shows what is occurring electrically at each part of the scope pattern. Drawing shows what is occurring electrically at each part of the scope pattern.
American Government: Roots and Reform, AP* Edition, 12th Edition American Government: Roots and Reform, AP* Edition, 12th Edition
Which of the following reactions correctly shows the transmutation of an element by neutron ... Which of the following reactions correctly shows the transmutation of an element by neutron ...
Video: Peptide Bond Formation Animation

For a complete list of videos, visit our video library