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

Author Question: In the figure above, the deadweight loss from the tariff is ________. A) 32 million B) 80 ... (Read 49 times)

deesands

  • Hero Member
  • *****
  • Posts: 514
on: Jun 29, 2018
In the figure above, the deadweight loss from the tariff is ________.
 
  A) 32 million
  B) 80 million
  C) 16 million
  D) zero

Question 2

The price elasticity of demand for gasoline is 0.40. If the price of gasoline rises by 20 percent, there will be
 
  A) a decrease of more than 20 percent in the quantity of gasoline demanded.
  B) an increase in the total revenue received from the sale of gasoline.
  C) a loss of total revenue for gasoline producers, because at a higher price the quantity of gasoline demanded decreases.
  D) no change in the quantity of gasoline sold because people need gasoline.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lin77x

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


deesands

  • Member
  • Posts: 514
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

yeungji

  • Member
  • Posts: 319
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Medications that are definitely not safe to take when breastfeeding include radioactive drugs, antimetabolites, some cancer (chemotherapy) agents, bromocriptine, ergotamine, methotrexate, and cyclosporine.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Methods to Document Peripheral Pulses A. Stick Figure Peripheral Pulse Documentation B. Tabular Peri Methods to Document Peripheral Pulses A. Stick Figure Peripheral Pulse Documentation B. Tabular Peri
The paleoanthropologist must understand these deformations in order to figure out which strata a fos The paleoanthropologist must understand these deformations in order to figure out which strata a fos
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
Conservation biology arose in response to biodiversity loss Conservation biology arose in response to biodiversity loss
How to calculate the gain and loss gene numbers with low bootstrap of phylogenetic tree? How to calculate the gain and loss gene numbers with low bootstrap of phylogenetic tree?
Bayesian Analysis of the Genotype of II-2 in Figure A.4 Bayesian Analysis of the Genotype of II-2 in Figure A.4
Video: Bone tissue types - compact and spongy

For a complete list of videos, visit our video library