Author Question: In the above figure, if the market price is 100 per ton, then the firm's producer surplus on the ... (Read 66 times)

jasdeep_brar

  • Hero Member
  • *****
  • Posts: 569
In the above figure, if the market price is 100 per ton, then the firm's producer surplus on the second ton of wheat is
 
  A) 25.
  B) 50.
  C) 75.
  D) 100.

Question 2

In the summer 2012 the lobster catch in Maine was especially large, but instead of celebrating the fisherman were suffering from a lower total revenue. (Source: New York Times, July 28, 2012 ) As the lobster catch increases, there is
 
  A) a movement along the demand curve, resulting in a higher price and a decreased quantity.
  B) a movement along the demand curve, resulting in a lower price and an increased quantity.
  C) no change in either the price or the quantity.
  D) a movement along the demand curve, resulting in a higher price and an increased quantity.



AmberC1996

  • Sr. Member
  • ****
  • Posts: 317
Answer to Question 1

A

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

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?

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

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

For a complete list of videos, visit our video library