This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a quota is imposed on imports of shrimp into the United States, U.S. consumer surplus from shrimp ... (Read 229 times)

pane00

  • Hero Member
  • *****
  • Posts: 579
on: Jun 29, 2018
If a quota is imposed on imports of shrimp into the United States, U.S. consumer surplus from shrimp will ________ and U.S. producer surplus from shrimp will ________.
 
  A) increase; increase
  B) increase; decrease
  C) decrease; increase
  D) decrease; decrease
  E) increase; not change

Question 2

Other things remaining the same, which of the following is likely to happen if there is a decrease in the price of cars?
 
  A) There will be a decrease in both the wage rate and the employment levels in the petroleum extraction industry.
  B) There will be an increase in the wage rate and a decrease in the employment levels in the petroleum extraction industry.
  C) There will be a decrease in the wage rate and an increase in the employment levels in the petroleum extraction industry.
  D) There will be an increase in both the wage rate and the employment levels in the petroleum extraction industry.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ashely1112

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


pane00

  • Hero Member
  • *****
  • Posts: 579
Reply #2 on: Jun 29, 2018
Correct answers!


ashely1112

  • Sr. Member
  • ****
  • Posts: 347
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

In 2008, Barack Obama was elected president of the United States, the first minority to achieve this ... In 2008, Barack Obama was elected president of the United States, the first minority to achieve this ...
Power in the United States: The Model Proposed by C. Wright Mills Power in the United States: The Model Proposed by C. Wright Mills
Guide to Major Massage Therapy Organizations in the United States* Guide to Major Massage Therapy Organizations in the United States*
Major events in the storage, retrieval, and use of fuels in the fed and unfed states Major events in the storage, retrieval, and use of fuels in the fed and unfed states
Importance of intermediate states Importance of intermediate states
Decomposition of Productivity Gap Between India and the United States Decomposition of Productivity Gap Between India and the United States
Video: Replication of DNA and Chromosomes/ How do cells replicate their DNA? (Animation) no Audio

For a complete list of videos, visit our video library