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

Author Question: A country opens up to trade and becomes an exporter of wheat. In the wheat market, consumer surplus ... (Read 136 times)

809779

  • Hero Member
  • *****
  • Posts: 579
on: Jun 29, 2018
A country opens up to trade and becomes an exporter of wheat. In the wheat market, consumer surplus will ________, producer surplus will ________, and total surplus will ________.
 
  A) decrease; increase; increase
  B) increase; decrease; increase
  C) decrease; increase; decrease
  D) remain unchanged; increase; increase

Question 2

In the above figure, the economy is initially at point B. Then the price level falls by 10. The wealth effect will help
 
  A) move the economy to point A.
  B) move the economy to point C.
  C) move the economy to point D.
  D) keep the economy to point B.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Eunice618

  • Sr. Member
  • ****
  • Posts: 350
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


809779

  • Member
  • Posts: 579
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

ebonylittles

  • Member
  • Posts: 318
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Country of Birth of Authorized U.S. Immigrants Country of Birth of Authorized U.S. Immigrants
The coolant temperature is controlled by the thermostat, which opens and allows coolant to flow to ... The coolant temperature is controlled by the thermostat, which opens and allows coolant to flow to ...
An ice-free summer opens the Arctic for exploration An ice-free summer opens the Arctic for exploration
A variety of sugar substitutes is available to the consumer A variety of sugar substitutes is available to the consumer
Differences in yield between two wheat varieties at different soil fertility levels Differences in yield between two wheat varieties at different soil fertility levels
Iraqi market Iraqi market
Video: Bipolar Disorder

For a complete list of videos, visit our video library