Author Question: Refer to the figure above. Calculate the total surplus in Lithasia under free trade. A) 150 B) ... (Read 50 times)

joblessjake · **on:** Jun 29, 2018

Refer to the figure above. Calculate the total surplus in Lithasia under free trade.

A) 150
B) 250
C) 325
D) 375

Question 2

The figure above shows the U.S. production function. How would an increase in capital be shown in the figure?

A) an upward shift or rotation of the production function
B) a downward shift or rotation of the production function
C) a movement from point A to point B
D) a movement from point C to point B
E) None of the above because the effects of an increase in capital cannot be shown in the figure.