Author Question: In a competitive market equilibrium: A) social surplus is minimized. B) all the gains from trade ... (Read 34 times)

jenna1

  • Hero Member
  • *****
  • Posts: 568
In a competitive market equilibrium:
 
  A) social surplus is minimized.
  B) all the gains from trade are not realized.
  C) there is Pareto efficiency.
  D) all the firms earn positive economic profits.

Question 2

Government licensing of occupations or trades
 
  A) has usually been created over the objections of sellers in the licensed industry.
  B) is more often supported than opposed by the persons and firms to be regulated.
  C) is usually supported by legislators because they want to protect consumers against inferior-quality products.
  D) will not reduce competition if it merely imposes higher costs on potential entrants into the occupation or trade.



owenfalvey

  • Sr. Member
  • ****
  • Posts: 337
Answer to Question 1

C

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

For a complete list of videos, visit our video library