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Author Question: The saying What's that got to do with the price of tea? reflects A) two markets where general ... (Read 15 times)

jasdeep_brar

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on: Jul 1, 2018
The saying What's that got to do with the price of tea? reflects
 
  A) two markets where general equilibrium analysis would be most useful.
  B) two markets where general equilibrium analysis likely won't be very useful.
  C) two markets where the products are clearly closely related.
  D) two markets where firms are incredibly greedy.

Question 2

Joey's Lawncutting Service rents office space from Joey's dad for 300 per month. A similar office space in the same building rents for 545 per month. What is the economic profit earned by Joey's dad?
 
  A) Profit of 245
  B) Profit of 100
  C) Loss of 100
  D) Loss of 245
Microeconomics ¦ Perloff ¦ 8th Edition
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Joc

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

B

Answer to Question 2

D


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