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

Author Question: The difference between income and consumption is a. rent b. profit c. saving d. opportunity cost ... (Read 56 times)

cdr_15

  • Hero Member
  • *****
  • Posts: 546
The difference between income and consumption is
 a. rent
  b. profit
  c. saving
  d. opportunity cost
  e. roundabout consumption

Question 2

Robert Tadmur exports processed turkey and has an upward sloping supply curve. The supply curve indicates that Robert faces a marginal cost of 0.25 or less per pound for supplying the first few pounds. But every producer in this market sells turkey at the market clearing price of 0.50 per pound. The difference between the actual amount that Robert receives and what he would accept to supply the market clearing quantity is called
 a. consumer surplus
  b. importer surplus
  c. producer surplus
  d. trade deficit
  e. average variable cost



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

aidanmbrowne

  • Sr. Member
  • ****
  • Posts: 305
Answer to Question 1

C

Answer to Question 2

C




cdr_15

  • Member
  • Posts: 546
Reply 2 on: Jun 30, 2018
Excellent


lcapri7

  • Member
  • Posts: 350
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

For a complete list of videos, visit our video library