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Author Question: The supply curve of a good is highly elastic when A) additional resources can be attracted into ... (Read 29 times)

B

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on: Jun 29, 2018
The supply curve of a good is highly elastic when
 
  A) additional resources can be attracted into its production by the prospect of a slightly higher reward.
  B) its marginal supply cost is highly sensitive to changes in demand.
  C) marginal cost is very low.
  D) marginal cost rises steeply as the quantity supplied increases.
  E) the demand for the good is greater than the supply.

Question 2

The figure above shows the market for annual influenza immunizations the United States. Area A + Area B is the
 
  A) deadweight loss when there is not the illustrated subsidy.
  B) loss in efficiency from the illustrated subsidy.
  C) gain in efficiency from the illustrated subsidy.
  D) remaining deadweight loss when there is the illustrated subsidy.
  E) equilibrium with the illustrated subsidy.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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upturnedfurball

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

A

Answer to Question 2

A


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B

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Reply #2 on: Jun 29, 2018
Thank you :)


upturnedfurball

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Reply #3 on: Jun 29, 2018
Happy to help you


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