« 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 124 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?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

More than one-third of adult Americans are obese. Diseases that kill the largest number of people annually, such as heart disease, cancer, diabetes, stroke, and hypertension, can be attributed to diet.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Are good deeds selfish? Are good deeds selfish?
How to determine the commission of a sale How to determine the commission of a sale
Kidney beans, steak, and iron-fortified bread and cereal are good sources of iron Kidney beans, steak, and iron-fortified bread and cereal are good sources of iron
From Farm to Consumer From Farm to Consumer
Most Canadian seniors rated their health as good to excellent. Most Canadian seniors rated their health as good to excellent.
Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ... Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ...
Video: Type of Transport - Active and Passive Processes

For a complete list of videos, visit our video library