This topic contains a solution. Click here to go to the answer

Author Question: Costs that are incurred when people engage in a trade A) are a waste of resources because they do ... (Read 127 times)

Kthamas

  • Hero Member
  • *****
  • Posts: 546
Costs that are incurred when people engage in a trade
 
  A) are a waste of resources because they do not create benefits of equal or greater value.
  B) can be eliminated by substituting government regulation for voluntary exchange.
  C) reduce the amount of exchange that occurs.
  D) rise as the number of middlemen increases.

Question 2

If a seller's reservation value for a good is 10 and the price at which the good is sold is 15, his producer surplus is:
 
  A) 25.
  B) 150.
  C) 1.5.
  D) 5.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lorealeza

  • Sr. Member
  • ****
  • Posts: 345
Answer to Question 1

C

Answer to Question 2

D




Kthamas

  • Member
  • Posts: 546
Reply 2 on: Jun 29, 2018
Excellent


kthug

  • Member
  • Posts: 332
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

For a complete list of videos, visit our video library