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

Author Question: When the competitive market is using its resources efficiently, the A) total amount of consumer ... (Read 214 times)

haleyc112

  • Hero Member
  • *****
  • Posts: 600
on: Jun 29, 2018
When the competitive market is using its resources efficiently, the
 
  A) total amount of consumer surplus is maximized.
  B) total amount of producer surplus is maximized.
  C) sum of the total amount of consumer surplus plus the total amount of producer surplus is maximized.
  D) sum of the total amount of consumer surplus plus the total amount of producer surplus equals zero.

Question 2

Which of the following statements is TRUE?
 
  A) An increase in the price of gasoline will decrease the demand for gasoline.
  B) An increase in the price of gasoline will increase the quantity demanded of gasoline.
  C) An increase in the price of gasoline will increase the supply of gasoline.
  D) An increase in the price of gasoline will increase the quantity supplied of gasoline.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

aruss1303

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


haleyc112

  • Member
  • Posts: 600
Reply 2 on: Jun 29, 2018
:D TYSM

abro1885

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Resources for Nutrition Facts Resources for Nutrition Facts
Effects of competitive inhibition on enzyme kinetics Effects of competitive inhibition on enzyme kinetics
Metallic Resources in the World Metallic Resources in the World
Light beer has about the same amount of alcohol as regular beer Light beer has about the same amount of alcohol as regular beer
Converting enzyme activity to its amount Converting enzyme activity to its amount
What is the total number of valence electrons in a silicate ion, SiO32-? What is the total number of valence electrons in a silicate ion, SiO32-?
Video: Major Elements in Biological Molecules: Lipids

For a complete list of videos, visit our video library