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Author Question: A deadweight loss of consumer and/or producer surplus occurs when a. producers fail to maximize ... (Read 64 times)

aabwk4

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on: Jul 1, 2018
A deadweight loss of consumer and/or producer surplus occurs when
 a. producers fail to maximize profits.
  b. mutually beneficial transactions cannot be completed.
  c. consumers do not maximize their utility.
  d. the price of inputs increases.

Question 2

Suppose there are 100 firms each with a short run total cost of STC = q2 + q + 10, so that marginal cost is MC = 2q +1 . If market demand is given by QD = 1050  50P, how much will be produced in the market?
 a. 300
  b. 400
  c. 500
  d. 600


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aloop

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

c


aabwk4

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Reply #2 on: Jul 1, 2018
Thank you


aloop

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Reply #3 on: Jul 1, 2018
No problemo


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