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Author Question: Refer to the table above. If only the two highest-value buyers and the two least-cost sellers engage ... (Read 109 times)

jlmhmf

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on: Jun 29, 2018
Refer to the table above. If only the two highest-value buyers and the two least-cost sellers engage in trade, what is the social surplus?
 
  A) 6
  B) 10
  C) 12
  D) 20

Question 2

Refer to the figure above. What is the change in total revenue due to a price increase from 3 to 5?
 
  A) The total revenue increases by 100.
  B) The total revenue decreases by 100.
  C) The total revenue increases by 200.
  D) The total revenue decreases by 200.


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meganmoser117

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


jlmhmf

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

tuate

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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