This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The area below the demand curve and above the price line measures A) consumer surplus. B) ... (Read 63 times)

go.lag

  • Hero Member
  • *****
  • Posts: 667
on: Jul 1, 2018
The area below the demand curve and above the price line measures
 
  A) consumer surplus.
  B) economic profit.
  C) elasticity of demand.
  D) the total value obtained from consuming the good or service.

Question 2

A lighthouse is a public good
 
  A) because it doesn't cost any more to light the way for 105 ships than it does to light the way for 104 ships, but for no other reason.
  B) because there is no way to prevent those who haven't contributed to the lighthouse from seeing better because of it, but for no other reason.
  C) because the government produces it, and for no other reason.
  D) for the reasons in A and B together.
  E) for the reasons in A, B, and C together.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

steff9894

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


go.lag

  • Member
  • Posts: 667
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

hramirez205

  • Member
  • Posts: 345
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

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.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Lung cancer. Photograph of part of a lung removed after death. The yellow area is a large tumor and Lung cancer. Photograph of part of a lung removed after death. The yellow area is a large tumor and
Gram Stain of a person's Gum line Gram Stain of a person's Gum line
Time Line of Human History From Upper Paleolithic Period to the Present Time Line of Human History From Upper Paleolithic Period to the Present
Apply the body wrap substance to the back with long, smooth strokes, covering the area thoroughly. Apply the body wrap substance to the back with long, smooth strokes, covering the area thoroughly.
What cause the white spot area on throat? What cause the white spot area on throat?
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
Video: Hormonal feedback loop components

For a complete list of videos, visit our video library