« previous next »

Author Question: How do imports affect buyers' consumer surplus? What will be an ideal ... (Read 80 times)

jilianpiloj

  • Hero Member
  • *****
  • Posts: 521
on: Jun 29, 2018
How do imports affect buyers' consumer surplus?
 
  What will be an ideal response?

Question 2

An example of household production excluded from GDP is
 
  A) household cleaning services provided by Merry Maids Incorporated.
  B) child care provided by a certified nanny.
  C) tree trimming you provide at your parents' home.
  D) plumbing work completed by Joe Fix-it.
  E) lawn care provided by a local lawn care company.


epscape

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 29, 2018
Answer to Question 1

Consumer surplus increases. It increases because imports lower the price of the good being imported, so buyers purchase more of the good and hence their consumer surplus increases.

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Three ways that factors affect mortality in response to changes in population density. Three ways that factors affect mortality in response to changes in population density.
Chemicals can adversely affect personal protective equipment (PPE) in three ways: They can permeate ... Chemicals can adversely affect personal protective equipment (PPE) in three ways: They can permeate ...
Rising sea levels will affect millions in coastal zones and on islands Rising sea levels will affect millions in coastal zones and on islands
How long does exercise affect blood sugar? How long does exercise affect blood sugar?
A very light ideal spring stretches by when it is used to hang a 135-N object. What is the ... A very light ideal spring stretches by when it is used to hang a 135-N object. What is the ...
For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately
Video: Haustral churning, Gastrocolic reflex and mass peristalsis & Defecation

For a complete list of videos, visit our video library