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

Author Question: ________, in economics, refers to a preference for equal outcomes within the target population. ... (Read 50 times)

Capo

  • Hero Member
  • *****
  • Posts: 545
on: Jun 29, 2018
________, in economics, refers to a preference for equal outcomes within the target population.
 
  A) Randomness
  B) Rationalism
  C) Fairness
  D) Liberalism

Question 2

Define reservation values. If a buyer of a product has a reservation value of 10, the seller of the product has a reservation value of 3, and the equilibrium price of the product is determined at 5,
 
  calculate the consumer surplus and the producer surplus.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

poopface

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A reservation value is the price at which a trading partner is indifferent between making the trade and not doing so. For a buyer, this is the highest price he is willing to pay for a good or service. For a seller, it is the lowest price he is willing to accept for a good or service.
Consumer surplus = 10 - 5 = 5
Producer surplus = 5 - 3 = 2


Capo

  • Hero Member
  • *****
  • Posts: 545
Reply #2 on: Jun 29, 2018
Correct answers!


poopface

  • Sr. Member
  • ****
  • Posts: 339
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Barriers that a drug administered by the oral route must cross before interacting with a target ... Barriers that a drug administered by the oral route must cross before interacting with a target ...
Hormones and their target cells. Hormones and their target cells.
Interaction between a CD8+ T cell and its target. Interaction between a CD8+ T cell and its target.
Hypersensitivity reactions and different target organs. Hypersensitivity reactions and different target organs.
Population and Settlement Population and Settlement
Enzymatic pathway for attachment of ubiquitin to target proteins Enzymatic pathway for attachment of ubiquitin to target proteins
Video: Membrane transport proteins - pores, gated channels and pumps

For a complete list of videos, visit our video library