« previous next »

Author Question: Suppose the market demand curve for cable internet service is completely elastic. At the market ... (Read 138 times)

OSWALD

  • Hero Member
  • *****
  • Posts: 580
on: Jul 1, 2018
Suppose the market demand curve for cable internet service is completely elastic. At the market equilibrium price under perfect competition, the consumer surplus in this market equals:
 
  A) total consumer expenditures.
  B) total sales revenue.
  C) zero.
  D) an amount slightly more than total consumer expenditure.

Question 2

A maximin strategy
 
  A) maximizes the minimum gain that can be earned.
  B) maximizes the gain of one player, but minimizes the gain of the opponent.
  C) minimizes the maximum gain that can be earned.
  D) involves a random choice between two strategies, one which maximizes potential gain and one which minimizes potential loss.


anoriega3

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Four Arch Curve Four Arch Curve
The oxygen isotope curve illustrates the ratio between 16O and 18O. The oxygen isotope curve illustrates the ratio between 16O and 18O.
A typical distillation curve. Heavier molecules evaporate at higher temperatures and contain more ... A typical distillation curve. Heavier molecules evaporate at higher temperatures and contain more ...
When the service work is completed, the hoist should be raised slightly and the safety released ... When the service work is completed, the hoist should be raised slightly and the safety released ...
This battery cable was found corroded underneath. The corrosion had eaten through the insulation yet ... This battery cable was found corroded underneath. The corrosion had eaten through the insulation yet ...
Normal frequency distribution, characterized by a bell-shaped curve Normal frequency distribution, characterized by a bell-shaped curve
Video: Nucleic acid digestion -small intestine

For a complete list of videos, visit our video library