« previous next »

Author Question: Suppose Sam buys a good for 100 at a yard sale. If consumer surplus from the sale is 75, Sam would ... (Read 112 times)

vinney12

  • Hero Member
  • *****
  • Posts: 586
on: Jun 30, 2018
Suppose Sam buys a good for 100 at a yard sale. If consumer surplus from the sale is 75, Sam would have been willing to pay:
 a. 100 b. 175.
  c. 25 d. equal to the deadweight loss.

Question 2

A drought destroys much of the grape crop. As a result, consumer surplus in the market for wine:
 a. decreases. b. increases.
  c. remains unchanged. d. depends on the deadweight loss.


juiceman1987

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ... An engine in good mechanical condition should produce 17 to 21 inches Hg of vacuum at idle at sea ...
To help make good electrical contact with the terminals without doing any harm, select the ... To help make good electrical contact with the terminals without doing any harm, select the ...
How to determine the commission of a sale How to determine the commission of a sale
Good Old War - Part Of Me [Audio] Good Old War - Part Of Me [Audio]
Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ... Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ...
Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ... Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ...
Video: ACTH/Cortisol (glycogenolysis, protein catabolism, lipolysis and gluconeogenesis)

For a complete list of videos, visit our video library