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

Author Question: At consumer equilibrium income is allocated to purchases so that the ratio of marginal utility to ... (Read 26 times)

FButt

  • Hero Member
  • *****
  • Posts: 519
At consumer equilibrium income is allocated to purchases so that the ratio of marginal utility to price is equal for different goods.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If social regulation causes the supply curve in a market to shift up because of higher marginal costs, then:
 a. both consumer and producer surplus will decrease.
  b. both producer and consumer surplus will increase.
  c. consumers will gain at the expense of producers.
  d. producers will gain at the expense of consumers.
  e. there will be no change in the sum of producer and consumer surplus, although its division may change.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

briezy

  • Sr. Member
  • ****
  • Posts: 347
Answer to Question 1

True

Answer to Question 2

a




FButt

  • Member
  • Posts: 519
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)


carlsona147

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

For a complete list of videos, visit our video library